Debt is the money that a borrower owes to a lender. Money that’s acquired later has less time to grow through investments, and is thus considered less valuable. 69 times. Access the National Financial Educators Council list of key financial literacy words. Play this game to review Word Problems. Asset - something of monetary value owned by an individual or an organization. a certificate of debt issued by a government or corporation. Facilitate Small Group Problem Solving There is a high level of engagement during small group problem solving sessions. Edit. The information in a credit report is used to calculate a consumer’s credit score, which is one of the primary factors that lenders consider when evaluating a credit application. Typically, in PYF a certain percentage of income is deposited in a savings account each month. an additional payment (or other remuneration) to employees as a means of increasing output. Instructors should create regular opportunities for mixed-ability groups to work with real-life financial literacy word problems that contain the unit vocabulary. A budget is a plan for using income to meet financial obligations. 154 times. MORTGAGE Financial Literacy . A credit score is a three-digit number that represents how likely a borrower is to repay a debt. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Annual percentage rate. Credit is a financial arrangement in which money is borrowed for a purchase and paid back at a later date. An amount of money, shown on a person’s statement, that they have in their account or that they owe at any time. Sign up. People who are financially literate are generally less vulnerable to financial fraud. Ready to get started? They might be intimidating, but it’s an important language to learn—it’s how lenders, banks, and credit card companies talk about you, so study up because you want to know what they’re saying! The rate is expressed as a percentage and indicates how much interest the borrower will pay over the course of a year. Boost your financial literacy vocabulary by mastering the essentials. 3 Quick Tips for Increasing Your Financial Vocabulary 1. Mathematics. Introduce the vocabulary associated with Financial Literacy using this set of word cards. Spellers of the world, untie! Create Word Search Finance Vocabulary Word List (303) A) Account, Accounting, Accrue, Accumulate, Acquisition, Activity, Adjustable, Adjustment, AMEX, Amortization, Annual, Annuity, Appraisal, Arbitrage, Arrangement, Arrears, Assets, Authentic, Authorization, Automated, Average, Averaging We make no representation that we will improve or attempt to improve your credit record, history, or rating through the use of the resources provided through the OppLoans blog. A “want” is an expense that would be nice to have but isn’t essential, such as designer clothing. Comparison shopping is a strategy that consumers can use to save money on purchases. In other words,... 3. A budget is a tool you can use to track your exact income and expenses within a set period of time, often on a monthly basis. Start studying Financial Literacy Vocabulary. STUDY. An individual, company, or country can own or control assets, which include things like cash, investments, art, technology, real estate, and intellectual property. It allows consumers to make purchases that they wouldn’t be able to afford if they had to pay the full price in one installment. Borrowers with higher scores are viewed as more likely to repay debt obligations and are thus more likely to be approved for credit and receive lower interest rates. Play this game to review Word Problems. It is produced by the credit bureaus and typically consists of four sections: personal information, financial account history, history of credit applications, and public records. In other words, assets contain value that can be converted into money. 0. Capitalization - When interest is capitalized, the outstanding (unpaid) interest on your student loan … Don't have an account yet? An amount shown on a person’s last statement that is brought forward to the next statement, either to show money saved or money owed. It consists of comparing the prices of similar products to determine which is least expensive. 2 years ago. There are two primary kinds of interest: simple interest and compound interest. All Rights Reserved.Use of Opportunity Financial, LLC, is subject to our Privacy Policy and Terms of Use. It tracks how much income a person receives and details how that money will be allocated to pay for expenses, build savings, and meet financial goals. Want to be fluent in financial literacy? Financial Literacy Glossary; Word Search; Word Cards; Fill in the Blank activity; Evaluation: Mark fill in the blank worksheet. Click card to see definition . Default is the second and more serious stage of nonpayment that follows the stage of delinquency. Diversification is a strategy to reduce the overall risk of loss. bonus. Assess students during game and discussion to see how well they are identifying the terms. Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you Over 60,000 word searches created! Personal financial literacy is important — no ifs, ands, or buts. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Principal is the amount of money due on a loan before interest. This is a number assigned to each individual that determines their creditworthiness. to use money or other resources to pay for goods or services. It's free and takes five seconds. a plan for spending or saving money that is made up of income and expenses. Push your learning experience beyond the classroom with glossary of the Foundations of Financial Literacy companion website. Career Prep. This is because money that’s invested has the potential to grow, and the longer that it’s invested, the more it will appreciate. Edit. An emergency fund is money set aside for big, unexpected expenses such as job loss or large medical bills. Traditional IRA stands for Traditional Individual Retirement Account. Terms like fixed & variable expenses, borrowing, lending, profit, revenue, and interest are defined. Tap card to see definition . Preview this quiz on Quizizz. Bankruptcy shields borrowers from debt collection, but it requires that they sell their assets to repay the money they owe. *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! Net income is what remains after these expenses are deducted. The information contained herein is provided for free and is to be used for educational and informational purposes only. There are two ways to measure income: gross income and net income. Financial literacy refers to a variety of important financial skills and concepts. Unlike a credit card, a debit card immediately withdraws funds from the user’s bank account. Bankruptcy. Tap card to see definition . Individuals can … 73% average accuracy. Bankruptcy carries significant financial consequences. how to prepare for and stage a financial literacy field trip. Difficulty: Intermediate. The... 2. Examples(from own life) Non-Examples. Credit cards allow you to make … Edit. Fifty five flash cards are grouped into four sets. Assess students during game and discussion to see how well they are identifying the terms. Rent, car payment, insurance., Money paid to the government on goods and services sold based on a percentage., Any activity or change in … It is calculated based on the information in a borrower’s credit report and ranges from 300 to 850. We are not a credit repair organization as defined under federal or state law and we do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit. ... Credit Report. Each set contains vocabulary words that correspond to the fundamentals of financial literacy. Creditworthiness is a term that refers to how much confidence a lender can have in a borrower’s ability to repay a loan. 66% average accuracy. Default occurs when a borrower is unable to meet the obligation of debt repayment. Checking Account. Knowing these important financial terms and how they apply to your personal finance plan and budget can help you move forward with your goals. the recipient of funds or other advantages. PLAY. Creditworthiness is primarily determined by how well a borrower has managed previous debt obligations. bailey22. They must know the word that is being defined before they can look it up. Once a loan enters default, the lender typically reports it to the credit bureaus and sells the debt to a collection agency. Sign up. It provides a financial buffer that shields against accruing unwanted debt. Income is money received through sources such as employment, investments, or business transactions. This word search, “Personal Financial Literacy Vocabulary,” was created using the My Word Search puzzle maker. Interest is the percentage of a loan principal that lenders charge borrowers. Using online tools, they learn how to calculate past, present and future expenses. Debit cards are less likely to contribute to excessive debt than credit cards, but users face fees if they overdraw their account. Tap again to see term . Savings Terms to Know Edit. specifically with regard to vocabulary and grammatical structure pertaining to financial literacy. Vocabulary: taxes, gross income, net income, deposit, debit, balance, budget, balanced budget. refuse to accept and send back. Balance. Simple words to describe the core principles of financial literacy, such as earning, spending, and saving. Mathematics. The engaging graphics will help motivate your students to use precise math vocabulary in your classroom! © 2021 Opportunity Financial, LLC. PDF (1.95 MB) This set includes the definitions for Grade 5, new Math TEKS. Most major news websites have a Business Section featuring business news stories. You are currently using guest access (Log in) -TEST-, Personal Finance Writer - Editorial Staff. Traditional IRA. 3 years ago. This plastic card is issued by a financial institution. A “need” is defined as an essential expense, such as food or housing. Articles provided in connection with this blog are general in nature, provided for informational purposes only and are not a substitute for individualized professional advice. Financial Literacy Vocabulary DRAFT. Some of the worksheets for this concept are Financial literacy, Financial literacy course curriculum manual, Personal financial literacy for grades 7 8, Financial literacy, Personal financial literacy glossary, Personal financial literacy, Personal financial literacy guide for, Kids instructor guide. Her work focuses on providing hands-on resources for high school and college-age students in addition to their parents and educators. This resource is aligned with the Texas Financial Literacy TEKS and would be perfect to use during a Financial Literacy unit. Save. Financial Literacy . Gross income is the total amount that’s earned before expenses, taxes, and other costs. brandi4891. Start a Jam and invite your friends and classmates to join! Mar 20, 2017 - This word search is a great vocabulary review for students after a financial literacy unit. Understanding basic money terms and concepts that affect your financial health is the first step toward financial literacy. Understanding financial terminology is an essential part of financial literacy. Balance transfer. a plan to regularly put aside money for a specific purpose. LEASE/RENT ... Characteristics. Beat your last streak, or best your overall time. Privacy Policy | California Disclosures and Privacy Policy | California Consumers can opt-out of the sale of personal information by clicking Do Not Sell My Info. ... ACH Transfers. *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! Pop quiz: What does ‘creditworthiness’ mean? Aug 10, 2014 - This set includes the definitions for Grade 5, new Math TEKS. Bankruptcy - a state of being legally released from the obligation to repay some or all debt in exchange for the forced loss of certain assets. For example, if you are teaching kindergarten or first grade, you may want to include fewer vocabulary words or discussion points. Simple interest is calculated exclusively on the initial amount of money borrowed, while compound interest is calculated based on the loan principal plus the interest that accumulates each period. Credit Card. A credit report is a record of a borrower’s credit history. an interest-earning loan to a company or government for a specific amount of time; at the end of the set amount of time, the company or government must pay back the loan amount in full, … Personal Financial Literacy Vocabulary - Match up. Cash Flow: Where your money comes from and where it goes as you spend it, is cash flow. bounce. Students cut and … Click again to see term . 0. 19 Words for a Healthy Financial Literacy Vocabulary. Balance brought forward. Through a think-aloud read-aloud, the lesson will illuminate key economic vocabulary embedded in the text, as well as illustrate how to introduce key economic concepts through think-alouds and talking/writing about the text. Giving you a new way to instill learning habits in them. Financial Literacy Vocabulary Words. A card game that combines simple leisurely fun with education purposes that will help your children develop their financial literacy. Take a financial literacy lesson or two, and go from there. Students cut and … By spreading the cost over time, credit enables borrowers to make big-ticket purchases such as homes and vehicles. And, more importantly, you know how to make money work for you. Start with these 20 essential words. These words relate both to the economics standards in social studies, as well as real-world mathematics and financial literacy. The full financial literacy vocabulary list along with games and activities to help understand key terms… At first, the words might sound like a foreign language. An asset is any resource (tangible or intangible, owned or controlled) that holds value. Bond. PDF (1.22 MB) This product includes: 11 personal financial literacy vocabulary cards- ones side has the word and picture, the other side has the definition (saving, spending, sharing/donation, bank, bank account, credit card, debit card, check, deposit, withdraw, payment) 3 … Asset. The economics and financial literacy vocabulary words are italicized. It is a way to see how money moves through your personal financial system. This bunting allows for more space than cards on a word wall to better define and illustrate the vocabulary terms students will see on STAAR. If you have positive cash flow, it means that you have more coming in than going out. It can be accrued through any form of borrowing—credit cards, mortgages, personal loans, and auto loans among others. to use money or other resources to pay for goods or services Preview this quiz on Quizizz. What is a business agreement or exchange? Financial Literacy Vocabulary DRAFT. A core principle of investing, diversification spreads investments over different assets with varied risk potential. A written, dated, and signed a piece of paper directing a bank to pay a sum of money., A plastic card that allows the owner to transfer money from a lender to pay for something., Expenses that stay the same month to month. It's free and takes five seconds. Negative … Extended Learning Opportunities: Students could create their own game using these terms. on the path to systematic vocabulary improvement. Students will learn about managing money, banking, credit, debt, home financing and loans while practicing listening, reading, speaking and writing skills. Pay yourself first, or PYF, is a strategy in which saving is prioritized and made an essential cost in a budget. How about ‘principal’ or ‘credit report’? To begin, cover the basics. If you don’t know what financial literacy is, it’s a fancy way of saying you understand how money works. Common forms of credit include loans and credit cards. benefit. Subscribe to our newsletter for more marketing news & industry trends. bond. An asset is any resource (tangible or intangible, owned or controlled) that holds value. Just as other “needs” such as rent and food are essential, so is saving, and only once those “need” expenses are covered can money be used for “want” purchases. Budget. Financial literacy vocabulary words 1. Here are the 20 most important terms to strengthen your financial literacy vocabulary. Samantha Rose covers financial literacy for the educational arm of OppLoans. Extended Learning Opportunities: Students could create their own game using these terms. Financial Literacy 101: Important Financial Literacy Terms Posted by Emma Gordon on August 23, 2019 . Each student is given a worksheet with definitions, along with the word search. K - 5th grade. Time value of money, or TVM, is the concept that money available now is worth more than an identical amount in the future. financial assistance in time of need. a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself, support paid by one spouse to another after separation, income from capital investment paid regularly, an unattended machine (outside some banks) that dispenses money when a personal coded card is used, the difference between the credit and debit of an account, a budget is balanced when current expenditures are equal to receipts, a legal process for a corporation declared to be insolvent, a market characterized by falling prices for securities, the recipient of funds or other advantages, a certificate of debt issued by a government or corporation, an additional payment (or other remuneration) to employees as a means of increasing output, a market characterized by rising prices for securities, the excess of cash revenues over cash outlays in a give period of time (not including non-cash expenses), a check issued by the officer of a bank on the banks own account (not that of a private person), a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment, a bank account against which the depositor can draw checks that are payable on demand, a register of checks issued (usually in numeric order), court-ordered support paid by one spouse to the other who has custody of the children after the parents are separated, a financial institution that accepts demand deposits and makes loans and provides other services for the public, interest calculated on both the principal and the accrued interest, a binding agreement that is enforceable by law, sign and endorse (another person's signature), as for a loan, an offer made by someone who has rejected a prior offer, a certificate that can be redeemed for value as needed, an estimate of ability to fulfill financial commitments, a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered, a person to whom money is owed by a debtor, a cooperative depository financial institution whose members can obtain loans from their combined savings, a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account, an amount that can be subtracted, as for tax purposes, a decrease in the gross amount on which a tax is calculated, a person who relies on another person for support, payment given as a guarantee that an obligation will be met, decrease in value of an asset due to obsolescence or use, earnings of a corporation distributed to its shareholders, the ownership interest of shareholders in a corporation, deduction allowed to a taxpayer because of his or her status, money spent to perform work and reimbursed by an employer, a federally sponsored corporation that insures accounts in national banks and other qualified institutions, an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets, proceedings initiated to repossess the collateral for a loan, take a debtor's wages on legal orders, as for child support, the amount of money one makes over a period of time, a sum of money paid in compensation for loss or injury, a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred, a general and progressive increase in prices, unable to meet or discharge financial obligations, promise of reimbursement in the case of loss, the percentage of a sum of money charged for its use, laying out money or capital in an enterprise, someone who lends money or gives credit in business matters, an obligation to pay money to another party, insurance paid to named beneficiaries when the insured person dies, termination of a business operation by using its assets to discharge its liabilities, being in cash or easily convertible to cash, the temporary provision of money (usually at interest), the price at which buyers and sellers trade the item in an open marketplace, a written order for the payment of a sum to a named individual; obtainable and payable at a post office, a conveyance of property as security for repaying a loan, the pooled money that is invested in assets, a computerized data system to provide brokers with price quotations for securities traded over the counter, legally transferable to the ownership of another, the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses), someone legally empowered to witness signatures and certify a document's validity and to take depositions, the state of being bound to do or pay something, work done in addition to regular working hours, a plan for setting aside money to be spent after retirement, a check drawn against funds deposited in your personal checking account, a number you choose and use to gain access to various accounts, written contract or certificate of insurance, a list of financial assets held by a person or institution, excess of revenues over outlays in a given period of time, a system in which employees receive a share of the net profits of the business, a capital tax on property imposed by municipalities, a refund of some fraction of the amount paid, a fireproof metal strongbox for storing valuables, a tax based on the cost of the item purchased and collected directly from the buyer, financial aid provided to a student on the basis of merit, a percentage of a bill added in payment for service, capital raised by a corporation through the issue of shares, someone who holds shares of stock in a corporation, index based on a statistical compilation of the share prices of a number of representative stocks, the right to buy or sell a stock at a specified price within a stated period, a depositor's order to a bank to refuse payment on a check, a reduction in the gross amount on which a tax is calculated, a letter of credit issued by a bank or express company that is payable on presentation to any correspondent of the issuer, a short-term obligation that is not interest-bearing, a debt instrument with maturities of 10 years or longer, securities with maturities of 1 to 10 years, something held by one party for the benefit of another, written assurance that a product or service will be provided, a document declaring wishes regarding disposal of property, the act of taking out money or other capital, an educational plan in which students alternate between paid employment and formal study, Created on February 1, 2017 Saving money that a person or entity can enter when they ’ re unable to repay debts... Is being defined before they can look it up access the National financial Educators list., balance, budget, balanced budget diversification is a strategy that consumers can use to money! Your personal financial literacy if you are teaching kindergarten or first Grade you... At first, or PYF, is a strategy in which saving is prioritized made! It can be converted into money once a loan before interest term that refers to collection! Person or entity can enter when they ’ re unable to meet financial obligations over different assets with varied potential. By spreading the cost over time, credit enables borrowers to make big-ticket purchases such as employment, investments or... Can use to save money on purchases lesson or two, and other tools! Enter when they ’ re unable to repay their debts can be accrued through any form of cards... Your friends and classmates to join t essential, such as homes and vehicles income is remains! A debt and discussion to see how well a borrower is to be financial literacy vocabulary words for educational and informational ONLY... Assets to repay a loan enters default, the words might sound like a foreign.! Apply to your personal finance plan and budget can help you move forward with your goals along. The money that a person or entity can enter when they ’ re unable meet! The credit bureaus and sells the debt to a variety of important financial literacy word Problems contain... Literacy field trip of nonpayment that follows the stage of delinquency is subject to our Policy! Posted by Emma Gordon on August 23, 2019 borrower will pay over the course of a borrower is be. Terminology is an expense that would be perfect to use precise Math vocabulary in your classroom owned or controlled that... Use during a financial institution three-digit number that represents how likely a borrower ’ s credit report?... Terms to know personal financial literacy using this set of word cards covers financial literacy unit and compound.... Important financial terms and concepts are financially literate are generally less vulnerable to financial fraud is to repay money... Basic money terms and concepts that affect your financial literacy vocabulary - Match up used for educational and informational ONLY. Vocabulary in your classroom focuses on providing hands-on resources for high school and college-age in! That you have more coming in than going out to measure income: gross,... Most major news websites have a business Section featuring business news stories second and more serious of! Business transactions, “ personal financial literacy unit remuneration ) to employees as a means of output. Make money work for you review word Problems a debit card immediately withdraws funds from user! Shopping is a term that refers to how much interest the borrower will pay over the of! Posters ONLY Included in this packet is a strategy in which money is borrowed for specific! Than going out repay their debts the most basic concepts of personal plan. To join or discussion points might sound like a foreign language s to. Simple leisurely fun with education purposes that will help your children develop their literacy. Course of a loan before interest students could create their own game using these terms,,! Last streak, or PYF, is a freebie sheet of finding taxes informational. Classmates to join assist students in addition to their parents financial literacy vocabulary words Educators is percentage... Debt than credit cards, but it requires that they sell their to! In which money is borrowed for a purchase and paid back at a later date unable repay. Borrower will pay over the course of a year aside money for specific. College students will put their financial knowledge to the test with terms that describe credit, student,! As an essential part of financial literacy is, it ’ s acquired later has less time to through... The unit vocabulary but isn ’ t know what financial literacy is, ’... Budget, balanced budget the prompts and vocabulary words are italicized is least expensive assist students in to! And, more importantly, you know how to make … the recipient of funds or other advantages through! To be fluent in financial literacy vocabulary - Match up occurs when a is. Other costs a plan for using income to meet the obligation of debt issued by government. Tap card to see how well they are identifying the terms yourself first, the lender typically it... Needs and wants featuring business news stories created using the My word search consists! Budget is a legal status that a person or entity can enter they... Be perfect to use precise Math vocabulary in your classroom as earning, spending, and more flashcards. Individual or an organization industry trends vulnerable to financial literacy vocabulary by mastering the essentials ONLY Included this... Than going out a purchase and paid back at a later date or best your overall time terminology is essential. Have more financial literacy vocabulary words in than going out the prices of similar products to determine is! Your students to use during a financial institution interest and compound interest it ’ s before. Income to meet financial obligations such as earning, spending, financial literacy vocabulary words interest are defined MB. Your goals controlled ) that holds value monetary value owned by an individual or an organization this is freebie. ” was created using the My word search Play this game to review word Problems, balance budget. Rate is expressed as a means of increasing output other words, assets value! Debt collection, but users face fees if they overdraw their account literacy, such as food or housing how. Cost over time, credit enables borrowers to make money work for you are... They apply to your personal finance Writer - Editorial Staff to save money on purchases might... Before expenses, financial literacy vocabulary words, and go from there deposited in a borrower ’ s earned before,... Collection, but users face fees if they overdraw their account received through sources such as,! Basic concepts of personal finance is being defined before they can look it up the fundamentals of financial word... Comparison shopping is a strategy that consumers can use to save money on purchases but it that. Concepts of personal finance Writer - Editorial Staff two ways to measure income: gross income and.... Report is a strategy that consumers can use to save money financial literacy vocabulary words.... Or an organization need ” is an essential part of financial literacy.! For goods or services they learn how to calculate past, present and future expenses word. Of engagement during Small Group Problem Solving sessions is a plan for spending or saving that... Is cash flow, it ’ s credit history might sound like a foreign language streak! Report ’, you know how to prepare for and stage a literacy. To work with real-life financial literacy vocabulary you spend it, is a high level of during... How likely a borrower is unable to repay their debts, more importantly, you may want to include vocabulary... Earning, spending, and go from there s credit report is a three-digit number that represents likely. It, is the yearly interest rate charged on borrowed money cards allow you to make big-ticket purchases such earning! Play this game to review word Problems that contain the unit vocabulary a loan arm of OppLoans with flashcards games... Of word cards, deposit, debit, balance, budget, budget.: simple interest and compound interest economics and financial aid extended Learning Opportunities: students could create their own using. With regard to vocabulary and grammatical structure pertaining to financial fraud their debts credit cards, mortgages personal. It requires that they sell their assets to repay a debt, it means that you more... Mastering the essentials and saving flash cards are less likely to contribute to excessive debt credit. Into four sets this is a way to instill Learning habits in them defined an... For Grade 5, new Math TEKS for using income to meet financial financial literacy vocabulary words to determine which is expensive. That affect your financial literacy using this set of financial literacy vocabulary words cards concepts of personal plan! This packet is a great vocabulary review for students after a financial literacy 101: financial. Income is money received through sources such as designer clothing in ) -TEST-, personal loans, is! Collection agency or business transactions vocabulary term, 2014 - this word search is a number assigned each! You spend it, is a great vocabulary review for students after a financial literacy vocabulary, ” created. Simple leisurely fun with education purposes that will help your children develop their financial knowledge to credit... Review word Problems & industry trends that refers to a collection agency the unit.! Later has less time to grow through investments, and interest are defined an emergency fund is money received sources! Worksheets found for - financial literacy, such as homes and vehicles experience beyond the classroom with glossary the... … want to include fewer vocabulary words that correspond to the fundamentals of financial literacy or. Each card features a word and illustration to assist students in decoding the term... Vocabulary, terms, and interest are defined Rights Reserved.Use of Opportunity financial,,. And informational purposes ONLY and net income a government or corporation literacy for the educational arm of.. Earned before expenses, borrowing, lending, profit, revenue, and go from there reports it to fundamentals! Borrower will pay over the course of a year shields borrowers from debt collection, but face! Finding taxes are identifying the terms can enter when they ’ re unable to meet financial obligations or,.