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Chapter6Voc2

Across
Is the maximum amt. of money a creditor will allow a credit user to borrow.
Is the interest computed only on the principal that you borrow.
Time period during which no finance charges will be added to your account.
Smallest amt. you can pay and remain a borrower in good standing.
You agree to be responsible for the loan payments if the other person fails to make them.
Legal process in which some or all of the assets of a debtor are distributed among the creditors because the debtor does not pay his/her bills.
Down
Cost of credit on a yearly basis expressed as a percentage.
Income you receive (take-home pay, allowance, interest)
Measure of person's ability and willingness to make credit payments on time.
Total dollar amount you pay to use credit.
Form of security to help guarantee that the creditor will be repaid.