Across
- 2. debt where there is collateral to repossess, such as a car loan
- 6. owing money to anyone for any reason
- 8. the person/corporation that lends the money
- 12. borrowing money for an emergency to be repaid when you get your next paycheck
- 13. the person who owes the money
- 14. garnishment having a court ordered wage assignment
- 15. the amount of money borrowed
- 16. APR divided by 12
- 20. credit line - balance
- 22. the penalty when the credit card company gets your payment after the due date; usually $25
- 23. a numerical value which states how well you borrow money and pay back debt
- 24. the person who takes responsibility for a loan when the primary borrower defaults. Do not become one for your boyfriend.
Down
- 1. voluntarily having loan payments deducted from your paycheck
- 3. another word for the legal contract signed by the creditor and debtor
- 4. an asset that you forfeit if you can not pay off a loan
- 5. the value that is used to calculate credit card interest
- 7. the process of paying at least a minimum payment, then carrying the balance to next month is called a _____ line of credit
- 9. an unplanned purchase; you just want one
- 10. debt where there is nothing to repossess such as a student loan
- 11. usually through retail stores such as Levin or Best Buy, the act of making a series of monthly payments to pay off a large purchase
- 17. someone's ability to earn money now and in the future
- 18. like a credit card, but you must pay the full bill every month
- 19. if you are resorting to payday loans, you may want to start to rethink your _____
- 21. a product that allows people to borrow money. Like any other product, it is marketed, bought, and sold.