Financial Responsibility Flashcards
1
Q
bad risk
A
a person who has a history of not making payments on time or in full
2
Q
bankruptcy
A
a legal release from obligation to pay all or some of one’s debts in exchange for a forced loss of asset
3
Q
credit counseling service
A
an organization providing financial management help and advice to people with debt troubles
4
Q
creditworthy
A
a person who can be trusted to fulfill a contractual promise to pay back a loan in a timely manner
5
Q
garnishment
A
automatic removal of funds from a paycheck for money owed
