fair credit reporting act - an American federal law (codified at 15 U.S.C. § 1681 et seq.) that regulates the collection, dissemination, and use of consumer credit information
fair debt collection practices act - The Fair
Debt Collection Practices Act (aka FDCPA), 15 U.S.C. § 1692 et
seq., is a United States statute added in 1978 as Title VIII
of the Consumer Credit Protection Act. Its purposes are to eliminate
abusive practices in the collection of consumer debts, to promote
fair debt collection and to provide consumers with an avenue
for disputing and obtaining validation of debt information in
order to ensure the information's accuracy. The Act creates guidelines
under which debt collectors may conduct business, defines rights
of consumers involved with debt collectors, and prescribes penalties
and remedies for violations of the Act. It is sometimes used
in conjunction with the Fair Credit Reporting Act.
fico credit score - FICO is the acronym for
Fair Isaac Corporation, a publicly-traded corporation (under
the symbol "FIC") that created the best-known and most widely
used credit score model in the United States. The FICO score
is calculated statistically, with information from a consumer's
credit files. The FICO score is primarily used in credit decisions
made by banks and other providers of secured and unsecured credit.
Banks and other institutions using such scores as a factor in
their lending decisions may deny credit, charge higher interest
rates, demand more collateral, or require extensive income and
asset verification if the applicant's FICO credit score is low.
fiduciary - one who is entrusted with duties on behalf of another. The law requires the highest level of good faith, loyalty and diligence of a fiduciary, higher than the common duty of care that we all owe one another. The debtor in possession in a Chapter 11 is a fiduciary for the creditors, owing loyalty to the creditors and not the shareholders of the debtor.
file bankruptcy - see bankruptcy
filing bankruptcy - see bankruptcy
financial advisor - A person or organization
employed by an individual or mutual fund to manage assets or
provide investment advice; also called financial advisor or investment
advisor or investment counsel.
financial independence - Different people have
different definition for financial independence. In the simplest
sense, it means to have sufficient income to self-support. Some
might add "comfortable" to self-support. For some, "self" includes
family - parent, spouse, children.
financial
management - Planning, directing, monitoring,
organizing, and controlling of the monetary resources of
an individual or organization.
fixed income - A security that pays a specific interest rate, such as a bond, money market instrument, or preferred stock.
fixed interest rate - A loan or mortgage with an interest rate that will remain at a predetermined rate for the entire term of the loan.
foreclosure - The legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt. |
