Debt a Glossary of Terms
Tuesday, September 2nd, 2008Bankruptcy – Having been legally declared financially insolvent. There are two types of bankruptcy – liquidation, in which your debts are cleared (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts.
Collateral – Property acceptable as security for a loan or other obligation.
Collection Agency – [...]