Debt Help Glossary

Here is a list of debt and money related terms that you might come across while researching.

Annual Fee - A yearly fee charged by the credit card companies.

APR - Annual percentage rate.

Balance Transfer - Moving a credit card debt from one card to another.

Bankruptcy - A legal process in which a debtor asks the court for a chance to start over.

Billing Cycle - The time between billings.

Billing Statement - A statement showing the purchases, payments and any other relevant information fir a given time period.

Charge Off - A debt that a creditor deems noncollectable.

Credit Bureau - An agency that collects credit information on everyone.

Credit Inquiry - This is when a company requests a copy of a users credit reports.

Credit Limit - A maximum amount of credit or funds available to a debtor.

Credit Report - A credit history report that is monitored by the credit bureaus.

Credit Score - A mathematical summary of your credit report.