| A | B |
|---|
| Closed-end Credit | Credit that can not be increased by making future purchases |
| Collateral | Something of value that is used to secure a loan |
| Liquidate | Turn into cash |
| Repossess | To take back |
| Open-end Credit | Credit that can be increased up to a certain point |
| Regulation Z | Law that requires lenders to disclose loan information to individuals |
| Finance Charges | Interest paid for the use of a credit card |
| Usury Laws | Regulate the amount of interest that can be charged by lenders |
| Fair Credit Reporting Act | Prohibits the abuse of credit information. It allows the credit reoprt applicant the right to know the information contained in the report and who has had access to the information |
| Fair Credit Billing Act | Law that established the procedure for handling credit billing disputes |
| Fair Debt Collection Practices Act | Law that makes it a federal offense for debt collectors to threaten consumers with violence, obscene language, or telephone contact at inconvenient times to collect a debt |
| Fresh Start Policy | Policy that allows some assets to be protected from liquidation |
