A credit file is a collection of data about an individual’s borrowing and repayment activity.
The information in an individual’s credit file determines their credit score, and their credit score is analyzed by financial...
banking
credit instrument
A credit instrument is a promissory note or other written evidence of a debt. Common examples include bonds, loans, checks, or invoices.
Credit instruments are used by governments, companies, and individuals alike.
...credit insurance
Credit insurance is a policy of insurance purchased by a borrower to protect their lender from loss that may result from the borrower’s insolvency, disability, death, or unemployment. When a borrower who has credit insurance becomes insolvent...
credit report
A credit report is a detailed written account of a consumer’s credit history, as prepared by a credit bureau – using financial information collected from creditors. This information includes a consumer’s identifying information (current and...
credit reporting agency
A credit reporting agency (also called a credit bureau or credit agency) is a private company that collects and sells information about a person or corporation’s identifying information, debt, and repayment history in order to create credit...
credit score
A credit score is a number between 300 and 850 that serves as a numerical representation of a person’s creditworthiness. The higher the score, the better an individual’s chances of securing a loan since a higher score suggests a greater...
credit union
Credit unions are nonprofit institutions owned and controlled by members of the union that provide loan and savings services to members. Unlike banks, credit unions are controlled by the account holders (members) of the union, and the union...
creditor
A creditor is someone (or an entity) to whom an obligation is owed. Most commonly, the obligation owed is an obligation to pay money for some prior services or to pay off a loan. The person who owes a creditor an obligation is known as a...
creditor's rights
Creditor’s rights can refer to many different aspects of creditor-debtor and creditor-creditor relations including a creditor’s rights to place a lien on a debtor’s property, garnish a debtor’s wages, set aside a fraudulent conveyance, and...
currency
Currency can be defined as a system of money issued by a State on a national territory, used by people in that nation, allowing to carry out monetary exchanges.
Issued by public authorities, currency is a unit of account and...