|
doingittough.info
Woonplaats: | 1 | Upvotes received | 0 |
Downvotes received | 0 |
Karma: | 0 (upvotes-downvotes) |
|
0 earned Badges No badges were found
Definitions (47)
1 |
0
0
arrears
means the unpaid (outstanding) amount that you owe your credit provider.
Meaning awaits approval from a moderator |
2 |
0
0
balance
the debt owed by the borrower to the credit provider. For example, when you get your credit card statement, the closing balance is the total amount owed by the due date. If you pay only the minimum payment due, you will have an outstanding balance.
Meaning awaits approval from a moderator |
3 |
0
0
budget
is the sum of your income minus the sum of your expenses over a defined period. When you work out your budget, you can see if your outgoings are greater than your incomings.
Meaning awaits approval from a moderator |
4 |
0
0
cash
advance – a loan taken out on a line of credit or credit-card. Generally, cash advances do not have an interest-free period and so the borrower will usually incur interest charges from the first day of the cash advance until the day that it is repaid in full. Sometimes the interest rate for cash advances is higher than the interest rate that applie [..]
Meaning awaits approval from a moderator |
5 |
0
0
credit contract
an agreement between the credit provider and borrower that sets out the ‘terms and conditions’ of the loan (see also ‘contract’).
Meaning awaits approval from a moderator |
6 |
0
0
code of banking practice
establishes the banking industry’s key commitments and obligations to its individual and small business customers. It is the banking industry’s customer charter on good practice banking standards. It is contractually binding on Code Subscribing banks.
Meaning awaits approval from a moderator |
7 |
0
0
code compliance monitoring committee
is an independent compliance monitoring body established under Clause 36 of the 2013 Code of Banking Practice(the Code). CCMC’s key functions are set out in the Code and include:
Meaning awaits approval from a moderator |
8 |
0
0
consolidation
is a type of refinancing that usually means getting a new loan to pay out a number of other loans.
Meaning awaits approval from a moderator |
9 |
0
0
contract
is a legally binding agreement between two or more parties to do, or to refrain from doing, a particular thing in exchange for something of value. The banker–customer relationship is contractual. Regardless of which banking products or services you use, you’ll enter into one or more contracts with your bank.
Meaning awaits approval from a moderator |
10 |
0
0
credit
is a form of loan that allows you to obtain goods or services before you actually pay for them, but this deferred debt must be repaid within an agreed timeframe and includes an interest payment. Typical forms of credit include credit cards, personal loans, overdrafts and home loans.
Meaning awaits approval from a moderator |
To view all 47 definitions, please sign in.