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Using Consumer Loans

Across
A loan that is repaid in a series of fixed, scheduled payments rather than a lump sum
An application that gives information about the purpose of the loan as well as the applicant's financial condition
A firm that makes secured and unsecured personal loans to qualified individuals
A legal note giving the lender the right to sell collateral if the borrower defaults on the obligation
A method of calculating interest that has extra-heavy interest charges in the early months of the loan
An accumulation of savings in an insurance policy that can be used as a source of loan collateral
A type of life (or disability) insurance in which the coverage decreases at the same rate as the loan balance
The use of a single-payment loan to finance a purchase or pay bills in situations where the funds to be used for repayment are known to be forthcoming in the near future
A method of calculating interest by computing finance charges on the original loan balance and then adding the interest to that balance
A loan made for a specified period, at the end of which full payment is due
Down
A legal claim permitting the leader, in case the borrower defaults, to liquidate the items serving as collateral to satisfy the obligation
An additional charge you may owe if you pay off your loan prior to maturity
A method of computing finance charges in which interest is charged on the actual loan balance outstanding
A document, which leaders are required to supply borrowers, that states both the dollar amount of finance charges and the APR application to a loan