Unit 4 Crossword

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Across
  1. 2. Document that summarizes a consumer’s financial history including number of credit cards, payments to credit cards, and number of late payments (if any)
  2. 4. Legal proceeding for a person or business unable to pay an outstanding debt
  3. 7. Law that states that a consumer’s credit application can only be judged on the basis on financial responsibility not the applicant’s gender, race, marital status, age, national origin, or receipt of public assistance
  4. 9. The current market value of a home minus the remaining mortgage balance
  5. 12. Requires the debtor to liquidate (sale) nonexempt property to repay creditors
  6. 14. Requires creditors to disclose the conditions, rates, and terms of home equity loan plans
  7. 19. A contractual agreement in which one party receives something of value now and agrees to pay the lender in the future
  8. 20. disability income insurance provides monthly benefits to a disabled wage earner to reimburse the wage earner’s income during a period of total or partial disability.
  9. 22. Provides consumers against unauthorized electronic fund transactions including debit and credit card purchases, ATM withdrawals, and automatic bank account withdrawals
  10. 23. Person or business providing credit
  11. 24. Act: Provides consumers with a means to dispute a billing error on open-ended credit accounts (credit and charge cards)
  12. 25. notice by the insured to the insurance company that a loss has occurred and demand for payment for the loss
  13. 26. Form of bankruptcy that allows businesses to create a plan to “reorganize” and pay off their debts over time
  14. 27. Form of bankruptcy that allows family farmers and fishing business owners to recover from debt
Down
  1. 1. Created to maintain the public’s confidence in banks and encourage stable banking practices
  2. 3. one for whom insurance is written (named insured)
  3. 5. Person or business that receives the credit
  4. 6. An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual
  5. 8. Grants consumers’ personal financial records a reasonable amount of privacy from federal government searches
  6. 10. provision in an insurance policy eliminating coverage for certain risks or limiting coverage
  7. 11. Form of bankruptcy that allows an individual to submit a plan to repay debts in 3 to 5 years.
  8. 13. Coverage for losses to insured property resulting from fire or lighting, as well as any resulting smoke or water damage
  9. 15. covers your vehicle for damage caused by impact with another vehicle or object or overturn of your vehicle.
  10. 16. includes earthquakes, landslides, mudslides etc.
  11. 17. Amendments to the Truth-in-Lending law that include requirements for cosigners who applicants under 21 years of age
  12. 18. increased the government’s ability to combat bank fraud
  13. 21. The act of obtaining credit, assets, money, funds, or securities under the custody of a financial institution through false pretenses