| A | B |
|---|
| Credit counselor | person whose job it is to help consumers with their credit problems |
| Debt repayment loan | loan which reorganizes and often consolidates debts. |
| Truth-in-Lending Law | Law requiring that you be told the cost of credit when you borrow or buy on credit. |
| Usury Law | Law which restricts the amount of interest that can be charged. |
| Equal Credit Opportunity Act | Law which states that credit application can be judged only on the basis of financial responsibility |
| Fair Credit Billing Act | Law which requires creditors to correct billing mistakes brought to their attention. |
| Fair Credit Reporting Act | Law which gives consumers the right to know what specific information credit bureaus are providing to potential customers. |
| FAir Debt Collection Practices Act | Law which protects consumers from collection agents |
| Federal Trade Commission | Agency which enforces laws on credit. |
| Chapter 7 Bankruptcy | Bankruptcy which liquidates assets in order to pay debts. |
| Chapter 13 Bankruptcy | Bankruptcy which proposes a plan for using future earnings and assets to eliminate debt over a period of time. |
| Bankruptcy | Legal process in which some or all of the assets of a debtor are distributed among the creditors. |
