Credit Card Glossary: Terms and Definitions
Deficiency balance is the remaining balance owed to a creditor after the collateral securing a loan is sold but the proceeds amount to less than the outstanding debt. This type of unsecured debt is typically the result of home foreclosures, short sales and car repossessions.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.