Across
- 2. the amount a lenders charges a borrower, it is a percentage of the principal amount
- 3. When a creditor takes possession of a collateral as a payment for an unpaid debt
- 5. The entity or person that is owed a debt
- 6. The person who owes the debt
- 7. When a creditor reports a debt as uncollectible and reports it as a loss
Down
- 1. a person that shares liability and responsability to repay with another borrower
- 4. An agreement between the creditor and debtor to resolve a debt for less than the full amount owed