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Thursday, May 24th 2012
Credit Card Glossary

Credit Card Glossary: Terms and Definitions

Confused by credit card terms? CreditCards.com's glossary of credit card definitions will help. From account holder to Regulation Z, we have defined the most-common and most-confusing credit card terms.
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Deficiency judgment
A deficiency judgment is a legal document a judge signs demanding payment from a person who has defaulted on a mortgage and had the house foreclosed on, and the value of the house is less than the loan. The deficiency judgment will be for the difference between the market value and what was owed. Creditors use deficiency judgments as the authority to seize other assets or even cause wages to be garnished.
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