Personal Finance Spending Unit

covers damage or loss of the structure and contents, plus liability on a property

the donation of a product or service in place of cash

a loan for the purchase of real estate

borrower gives the lender their vehicle title as collateral in exchange for cash

a person who owns an insurance policy

formal request to an insurance company asking for payment when something happens

portion of the purchase price that is not borrowed

short term loan that provides immediate cash by securing borrowers check or automatic withdrawl

requires insured person to pay a fixed percentage of the loss after deductible has been paid

goods, services, and/or money received in exchange for a promise to pay back at a future date

Provides payments for both liability and property insurance on a vehicle

The act of transferring debt from one credit card account to another

fees and charges associated with the purchase of a property

A yearly fee that may be charged for having a credit card

a person who is equally responsible for paying back debt under the credit terms

business hired by lenders to pursue payments on debts unpaid by borrowers

a record of a borrowers past loans and credit related transactions

an optional but important purchase that covers damage/loss of personal property in a rental

a person who rents property

monetary value of a property minus the amount owed on the property

decrease in the value of an asset associated with the decline in its remaining useful life

when a borrower fails to keep up with mortgage payments and lender takes back the property

agencies that create credit reports based on info received from lenders (A.K.A. credit bureaus)

an APR that may change depending on other factors

a plastic card that you can use to access a pre-established line of credit

renting a product while ownership title remains with the lease grantor

provides payment to insured if his or her property is damaged/destroyed by a covered accident

terms and fees of a credit card must be put in an easy to read format called

the chance of loss from an event that cannot be entirely controlled

someone who receives money if an insured person dies

the person who owns the property

A source of credit that combines open and closed end credit- usually has higher interest/fees

a financial product purchased by people facing a similar risk to protect against risk of loss

provides payment for extended nursing care due to accidents, illness, or old age

the price paid for the use of someone else's property

a numerical summary of your credit history

provides money to pay for health care for illness, injury, or sometimes preventative care

short term cash advance secured by a taxpayer's expected tax refund

money paid to a landlord to cover potential cleaning costs/damages at the end of the lease

provides payment to others if a member of the insured causes harm to other people or property

someone who relies on someone else for income and care

provides payment to replace earnings while workers cannot work due to illness or injury

the money paid to an insurance company to purchase a policy

a line of credit established in advance, so you don't have to apply each time credit is desired

contract between insurance company and insured that states terms

The cost of credit expressed as a yearly interest rate

products or services offered by employers that add extra value beyond earned wages

provides payment to beneficiaries who were named by the insured perosn

licensed individual representing a buyer or seller in a transaction to purchase real property

a loan based on the value of personal property

the out of pocket money paid by the policyholder before an insurance company starts paying

a person or organization who makes funds available for others to borrow