Consumer Credit Counseling Service Organizations which help consumers find a way to repay debts through careful budgeting and management of funds. These are usually nonprofit organizations, funded by creditors. By requesting that creditors accept a longer pay-off period, the counseling services can often work out a successful repayment plan. Private Mortgage Insurance (PMI). Insurance that protects the lender from financial loss when the mortgager defaults. Allows a homebuyer to obtain a mortgage with little or no down payment.
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Simple Interest: It is the rate of interest calculated on the principal amount only, and not on the earned interest or the compound interest. Bounced Check: A check which is not payable due to lack of sufficient funds in the account on which it was drawn, which a bank returns without honoring.
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Viator - The terminally ill person who sells his or her life insurance policy. Exclusions. Specific conditions or circumstances listed in the policy for which the policy will not pay claims or benefits.
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Major Purchase: A purchase that involves a significant amount of money. Preferred Provider Organization (PPO). A prepaid health insurance plan where several hospitals and doctors agree to provide services at a discounted rate.
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Federal legislation prohibiting abusive and unfair debt collection practices. Personal liability. Responsibility for the damage or loss to someone's property or bodily injury of someone.