Credit

3. loan that doesnt require collateral
5. borrowers who are more likely to pay as agreed pose less risk to creditors and lenders
7. a person, such as a parent, close family member or friend, who pledges to pay back the loan if you do not
12. A record of your ability to pay back your debts, whether it be credit card, bills, student loans or a mortgage
15. amount of time to pay back a loan
16. assert accepted as security for a loan
17. loans that a secured by a specific form of collateral, including assets such as a property and vehicles
18. Also known as lenders, a person or company to whom money is owed
20. interest rate that changes over time

1. an employer-sponsered retirement plan that lets you make tax-deferred contributions
2. Ability to borrow money and agreement to pay it back
4. a time deposit that you make at a bank generally ranging in amount from $500 to $250,000
6. a three digit number between 300 to 850, designed to represent your credit risk
8. Sum of money lent or invested on which interest is paid
9. the beneficiary of an estate
10. interest rate that stays the same for the life of a loan
11. person who sets up a trust for the distribution of their assets, also known as a settlor
13. person who borrows money from others, and the money borrowed is called debt, which is repaid
14. Percentage rate a bank or other lenders charges to borrow its money
19. Money given to another party in exchange for repayment of the loan principal amount plus interest