| A | B |
|---|
| artisan's lien | Car repairer's right to retain possession of the car until paid or if not paid, to sell the car to pay the repair bill. |
| bankruptcy law | Procedure based on federal law that protects creditors and debtors in cases in which the latter are unable or unwilling to pay their debts. |
| consumer loan | A loan for personal, household, or agricultural purposes. |
| credit rating | The evaluation of a party's ability to pay debts. |
| finance charge | The total added cost when one pays in installments for goods or services. |
| garnishment | A court-ordered procedure by which a portion of a delinquent debtor's wages are paid to satisfy the debt. |
| guarantor | A party who agrees to be secondarily liable to the principal debtor. |
| lien | An interest in property allowing its sale by creditor upon default by debtor. |
| mechanic's lien | Lien against realty available to one who has supplied labor or materials to improve it. |
| pawn | Pledge of tangible personal property. |
| pledgee | Creditor in a pledge who takes possession of property given up by pledge. |
| pledgor | A debtor in a pledge who voluntarily gives up possession of the property. |
| principal debtor | Person who owes the debt or obligation. |
| surety | Party who agrees to be primarily liable for debt created in favor of the principal debtor. |
| suretyship | Being primarily liable for a debt created in favor of the principal debtor. |
| unsecured debt | A debt in which the creditor lacks a secured interest in collateral. |
