Finance 101: Chapters 5 & 6

6. Cancelling all or some of the debt.
8. The money you contribute to the government to help pay for government projects and public services.
10. A bank employee who helps customers with their banking needs.
12. The ability to pay back the loan.
13. The money borrowed from someone with a promise that the money will be paid back in the future.
17. The numerical grade or rating you received based on information in the credit report.
19. Returning a part of the payment you made.
20. report A summary of the person’s credit history, usually used to evaluate person’s credit standing.
21. A credit card given by big stores; can only be used for purchases in that store.
22. The reputation and the traits of the borrower in handling money and debts.
24. Borrowing money in the form of cash from a credit card company.
26. Multiple equal payments made by the borrower until the loan is paid in full.
27. The amount of money a person or business owes.

1. A type of loan used to buy a house.
2. The first bigger payment required when buying more expensive goods and services on credit.
3. A report that shows how you used credit for the past month.
4. A situation in which a person or business is legally declared as not able to pay back debts.
5. A person with a good credit standing who signs the loan document with the main borrower, also becoming responsible to pay back the loan if the main borrower stops making payments.
7. A paper that identifies the legal owner of the vehicle.
9. Selling of goods or services at a lower price.
11. The amount of money still owed.
12. An arrangement that allows a borrower to get something valuable and pay the lender in the future.
14. A record of how responsible the borrower is with paying his or her debts on time.
15. A small plastic card that allows a borrower to buy goods and services on credit.
16. Paying back the money owed.
18. Using more money than you should.
20. Money in the form of bills and coins.
23. A piece of paper that tells the bank to pay the stated amount to another person or business.
25. Money borrowed to pay for educational expenses.