USA   |   UK   |   Australia   |   Canada

Credit card glossary terms to know for bankruptcy


Credit card glossary terms to know for bankruptcy When the only alternative to get relief from overwhelming debt is to file for bankruptcy, it helps to know some of the more common terms associated with it. Experts will tell you that bankruptcy should be a last resort after all other avenues to repay your debt have been exhausted. (Back to glossary of common credit card terms.)

Glossary terms to know when filing for bankruptcy

Chapter 11 bankruptcy -- Chapter 11 bankruptcy is a legal procedure that allows ... (more)

Chapter 13 bankruptcy -- Under Chapter 13 bankruptcy, a creditor repays debts under ... (more)

Chapter 7 bankruptcy -- Chapter 7 bankruptcy is the most common type of bankruptcy ... (more)

Collection -- In the credit world, collection is an effort by a collections department ... (more)

Default -- To default is to fail to make a payment on a debt by the due date. If this happens ... (more)

Default APR -- If you are late in making payments, your standard APR may increase ... (more)

Secured credit cards -- Secured credit cards are those that require collateral ... (more)

Subprime credit card -- A credit card designed for those with little credit history ... (more)

Time-barred debt -- Time-barred debt is a term that describes a particular type... (more)

Glossary of common credit card terms.

See related: Glossary of common credit card terms, Bankruptcy law updates close loopholes in repaying debt, Pay off credit card debt or declare bankruptcy?, Bankruptcy does offer a fresh start, at a high cost, Starting over after bankruptcy, Don't even think of spending frivolously before bankruptcy, 5 tips for those considering bankruptcy, Take control of debt, avoid bankruptcy, When medical problems hit, bankruptcy can make sense, Bankruptcy filings, state by state, 2005-2008, Are you a bankruptcy risk? Enigmatic score may tell lenders 

Published: March 11, 2009

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

Three most recent All credit card news stories:
  • 6 signs of bad financial advice – While good sound nuggets of money advice can help you keep money in your pocket, bad advice can leave you digging out of financial hole ...
  • Make financial planning as easy as 50/20/30 – In Alexa von Tobel's best-selling book, "Financially Fearless," she simplifies financial planning with a quick and easy method for spending, saving and having fun ...
  • Debt rises by 5 percent in top 20 cities – A study by the credit bureau Experian shows borrowing is on the rise again in 19 of the 20 biggest U.S. cities, with Dallas, Houston leading the way ...

Share This Story

Follow Us!

Credit Card Rate Report

Updated: 09-30-2014

National Average 15.05%
Low Interest 10.37%
Balance Transfer 12.73%
Business 12.80%
Student 13.24%
Cash Back 14.91%
Reward 15.02%
Airline 15.46%
Bad Credit 22.73%
Instant Approval 28.00%