Asset 

[image]

 http://www.google.com/url?sa=i&rct=j&q=house&source=images&cd=&cad=rja&uact=8&docid=-bZf0QOFX4b7ZM&tbnid=P3XV5Tv7jDBcWM:&ved=0CAQQjB0&url=http%3A%2F%2Fyouveneverheardofjentidwell.com%2F2012%2F03%2F02%2Fhome-sweet-house%2F&ei=G2E0U6P7IeqssATDwYGQBQ&bvm=bv.63808443,d.b2I&psig=AFQjCNGlzCjYUBraAxPMZkXdoC8vB12OuA&ust=1396028056704517

somthing of value that is owned. 

example: tangible assets are goodwill, copyrights, trademarks, and patents.

Bankruptcy 

[image]

http://www.google.com/url?sa=i&rct=j&q=bankruptcy&source=images&cd=&cad=rja&uact=8&docid=z8nVG7Lk-b1QiM&tbnid=gfmVdbDiPCOZTM:&ved=0CAQQjB0&url=http%3A%2F%2Fwww.bacalawoffices.com%2Fbankruptcy%2F&ei=4mE0U_fYA6ixsQTfmIGgCA&bvm=bv.63808443,d.b2I&psig=AFQjCNEbD58XlUskwnSNEvHHZ0DLeKobSg&ust=1396028187483280

a legal proceeding involving an individual or organization that is not able to pay its debts. 

Examples: Bancruptcy petiotions or orders against the stated person. 

Credit Rating 

[image]

http://www.google.com/url?sa=i&rct=j&q=credit%20rating&source=images&cd=&cad=rja&uact=8&docid=qzKQ2wSFtj2IUM&tbnid=dkL-AGSYnfZwLM:&ved=0CAQQjB0&url=http%3A%2F%2Fprienceshrestha.wordpress.com%2F2012%2F01%2F08%2Fthe-necessity-of-credit-rating-for-establishing-foreign-investment%2F&ei=22I0U7mIHsumsQSpl4CICQ&psig=AFQjCNEmjTpCk9W2Im2IYNe_7LgmQeC9aw&ust=1396028382347507

an evaluation of a borrower's ability to meet financial obligations. 

Credit Ratings of modules shoud be 10, 20, or 30 

Credit Report 

[image]

http://www.rentecdirect.com/details/tenant_credit_check.php

A document outlining a persons credit history, including past credit use, current cedit and inquireies about a persons credit history. 

Example: Need a credit card to rebuild a credit history? 

credit score

[image]

http://politicalcalculations.blogspot.com/2012/04/how-good-is-your-credit-score.html#.UzRjvqi-06Y

the numeral rating assigned to a borrowers ability to meet a financial obligations based on a scale designated by one of three credit agencies. the most widely used credit score is the FICO score. 

Example: Jim's credit score id good.

Debt to income ratio 

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http://www.ritholtz.com/blog/2013/10/household-debt-to-income-ratio-usa-vs-canada/

the porportion of a disposable income that is held as a short term debt, such as a credit card debt 

Exampe: you can get debt if you don't pay off your credit card. 

Fair Credit Reporting Agencies (FRCA)

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http://www.gambillonjustice.com/home/fair_credit_reporting_act_fcra

a Federal law regulating credit reporting agencies and definfing who has the right to a credit report, how credit history inforamation must be reported, and how to contest information in a credit report  

Example: the FRCA gives the right to access a credit report. 

FICO score 

[image]

http://blog.lendingclub.com/2010/11/08/how-well-do-you-know-your-fico-score/

credit scoreing method developed by fair isaac corporation, which is based soley on information contained in credit reports maintained by the credit buereas 

Example: they score your credit. 

inquiry

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http://www.dreamstime.com/stock-image-bank-credit-inquiry-form-image1213351

Liability 

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http://www.blogtrepreneur.com/2009/02/18/blogging-and-liability/

short term credit/debt 

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http://www.educationnews.org/higher-education/michael-a-macdowell-long-and-short-term-strategies-for-college-costs/