Low-Interest Credit CardA revolving line of credit that carries a lower interest rate than most credit cards either for an introductory period or throughout the life of the credit.
Lump SumA large one-time payment or distribution of money.
Margin LoanAn extension of money borrowed against the cash value of securities held in a margin account at a brokerage firm. The loan is often used for paying off debts.
Means TestAn income-based test required for Chapter 7 bankruptcy filers.
MortgageA secured loan that uses real estate as collateral against repayment. The lender can seize possession of the property if the borrower defaults on the payments.
Mortgage RefinanceAn adjustment of the remaining amount on a loan to secure a low interest rate, extend the payment term or increase the amount borrowed.
Negative CreditA mark on a credit report from default or delinquency that decreases the credit score.
Net IncomeA person's income minus expenses.
Non-Profit CompanyA debt-relief agency funded through credit card companies that helps customers repay debts in full.
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