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Definition of Credit

    Old Definition of Credit Surprisingly enough most of the naming conventions connected with modern accounting comes from from the Latin or Greek languages.  The term, “credit” for example comes from ‘Credo,’ a Latin word that means “I...

Secured Car Loan

Secured Car Loan and Unsecured Loans The basic definition of a secured car loan is a loan with collateral offered in case of default on the loan. Usually, the collateral is the item being purchased. Collateral for a car is the car itself. If loan goes into default,...

Types of Loans

Here are a few of the most common types of loans Single loan: Sometimes called a bridge or interim loan is for a short-term. This type of loan needs to be paid back at the end of the loan period. The total of the interest and the principal amount are paid at the...