Topics of this game:
- How much you owe each creditor individually and in total; 30% of your credit score is based on this
- The cost you pay each year to borrow money, including fees, expressed as a percentage
- A person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill
- A legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an opportunity for repayment
- A declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected; occurs when a consumer becomes severely delinquent on a debt
- An attempted recovery of a past-due credit obligation or debt by a collection department or agency
- A U.S. government agency that helps protect consumers by regulating financial products and services, like mortgages, credit cards, and student loans
- An agreement in which a borrower receives something of value now and agrees to repay the lender in the future, generally with interest
- A consumer-reporting company that collects and sells information about how individual people manage their credit (e.g. Equifax)
- A certified financial advisor who works for an accredited nonprofit specializing in helping consumers repay debt in a responsible manner
- A record of a person's use of credit over time; 15% of your credit score is based on the length of your credit history
- A document with information about a person's credit activity and history
- What's the song Cael sings called????
- A three-digit number (ranging from 300-850) based on an individual's credit history detailed in a credit report
- A measurement of your outstanding debt divided by your total available credit; a general rule of thumb is to keep this under 30%
- A detailed plan drawn up by a debt management company (DMC) and sent to an individual's creditors (entities they owe money). It groups several credit card debts into one payment, cuts your interest rate and creates a 3- to 5-year repayment plan.
- An agreement made between a creditor and a consumer in which the total debt balance owed is reduced and/or fees are waived, and the reduced debt amount is paid in a lump sum instead of revolving monthly
- A method of debt repayment whereby the borrower prioritizes paying down debts with the smallest balances first
- A government organization whose role is to protect consumers and competition by preventing anti-competitive, deceptive, and unfair business practices through law enforcement, advocacy, and education
