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21 Cards in this Set

  • Front
  • Back
Commodities Futures Trading Commission
Chicago Board of Trade
Health Maintenance Org
Individual Practice Association
Preferred Provider Org
Loan Disclosure Statement
1) APR
2) Total Value of all Payments
3) Actual Loan Amount
4) Total Finance Cost (Interest)
Credit Bureaus
Wage Earner Plan
Chapter ?
Chapter 13
Straight Bankruptcy
Chapter ?
Chapter 7
Acceleration Clause
miss payment, entire loan may be due
Recourse Clause
lenders options if you default: court costs or raise interest rate?
Balloon Clause
small monthly payments with large final payment
Equal Credit Opportunities Act
prohibit discrimination
Fair Credit Billing Act
time frames for renewing, disputes stop payments for defective goods
Fair Credit Reporting Act
30 day deadline for fixing mistakes
creditors need to provide accurate info
one free credit report annually
Consumer Credit Protection Act
accurate disclosure of fees
limited liability of $50 per card
Chapter 13
debt restructure, repayment plan that allows debtors to keep assets and make payments easier, on credit report for 7 years
Chapter 7
start over with "clean slate", allowed to keep minimum level of equity, cannot file for 6 years and on credit report for 10 years
Chapter 11
used by high income earners, restructure is approved by creditors
Chapter 20
mix of 13 and 7, restructure secured debt and wipe out unsecured
Usury Law
state laws governing interest rates