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Ramsey Chapter #4

Across
a statistical number used to represent a consumer’s creditworthiness
credit that automatically renews whenever a payment is made to reduce the debt
an asset that loses value over time, such as a car that’s worth less every year
failure to repay a loan on time
the original amount of a loan; the total amount borrowed before interest.
an asset that increases in value over time
a company that collects credit rating information and makes it available to creditors.
the loss of value of an asset over time
money owed to another person or company.
the amount of time, in months, that you’ll be making payments
when the value of an asset falls below what is owed on it.
Down
the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
the additional cost a lender charges for borrowing their money
a legal claim against (or right to own) an asset until the debt (loan) is repaid
a loan for a fixed amount of money that‘s paid back in monthly installments Depreciating
a lender who uses deceptive, unfair, or fraudulent practices on borrowers who are desperate for cash
something owned (that has value) offered as security on a debt; if the debt is not repaid as agreed, the item is forfeited to the lender