things you own, even if you still owe money against them

the repayment time period of a loan or debt / the number of years over which you'll repay the loan or debt

Annual Percentage Rate - a standard calculation by lenders to show what the interest rate and fees are on a credit product (e.g. loan, credit card, etc.); allows borrowers to compare different loan pr [..]

the past due amount owing

this is the credit score that creditors look at when determining your credit worthiness. It ranges from 300 – 900 points and incorporates a variety of factors about your financial behaviour. This help [..]

a person who incurs a loan or debt

a spending plan that accounts for your sources of income, all of your monthly and annual expenses as well as your future needs and possibilities. Budgeting is the process of forecasting your future in [..]

the secondary person on a loan / debt – this person is still 100% responsible for repaying the debt at any time

an asset pledged as security on a debt so that if the debt isn’t repaid as agreed, a lender can collect the collateral and sell it to recover any money owing on the debt

a company that recovers funds owed on a debt that is past due