Across
- 2. a primary party that agrees to pay off a debt just as the debtor would have
- 4. a type of loan that is backed up by property that the creditor can take if the loan is not repaid
- 6. this type of loan does not require any collateral and has higher interest
- 8. a piece of property that is used as security interest
- 12. when you receive something now, but pay later
- 13. what lenders want in case the borrower does not pay
Down
- 1. paying with this saves money when buying a car and puts you in a better position to negotiate for a lower price
- 3. a fee you must pay to the party lending you money
- 5. a second party that agrees to pay of a debt only if debtor defaults
- 7. this is done to a security interest so that it is against the claims of other creditors
- 8. sells goods on lends money to the debtor
- 9. in order to get this, lenders will look at your credit history, income, and assets to decide whether or not you’re a good credit risk
- 10. failure to make payments for a loan on time
- 11. person who buys the goods from the creditor