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Debt Glossary for alphabet "N"
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PostPosted: Tue Jun 21, 2005 3:27 am Subject: Debt Glossary for alphabet "N"
Hi,

I have enlisted all the major terminologies related to debt under alphabet N below -


1)No credit: This refers to people with a clean credit report who did not owe any credit balance in the past. The individual must have paid off the credit with the help of a loan or credit cards.

2)No hassles: A dialogue or a sales pitch that assures consumers that the individual will be rendered the best quality service.

3)Negative Amortization: When a loan payment schedule does not meet up the full amount of interest due the principal amount increases. This is called negative amortization. The monthly amount which is less is added to the principal amount of the loan.

4)Notice of Default: This is a written documentation send to a borrower or a debtor if there is any failure in payment on his part or if he has gone against any company policy. Through this notice the borrower is intimidated that a legal action may be taken against him.


Regards
Roxette
roxette
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