Credit

2. who is responsible for paying the loan when a borrower fails to make his/her loan payments
4. a record of your ability to pay back your debts, whether it be credit bills, student loans, or a type of mortgage
7. the ability to borrow money and agreement to pay it back
9. market value of an asset
14. you make sure you spend the money you have responsibly
16. Assets accepted as security for a loan
18. a limit to the amount of money you can spend on a credit card
19. a agreement that does let anyone else know how the assets are being handled
20. you finalize your agreement to for a loan

1. Percentage rate at which money is borrowed
3. its typically between 300 and 850. designed to rep your credit risk
5. amount of time to pay back a loan
6. sum of money lent or invested on which interest is paid
8. interest rate that changes over time
10. an interest rate that does not change over time.
11. loan guaranteed only by a promise to repay it
12. loans that are secured by a specific form of collateral, including assets such as property and vehicles
13. a person who borrows the money forms others, and the money you borrow is called debt and needs to be rebayed
15. Also know as lenders. a person or company to whom money is owed
17. money given to another party in exchange for repayment of the loan principal amount plus interest