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The While Loop Has Two Important Parts: a Condition That

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The while loop has two important parts: a condition that is tested and a statement or block of statements that is


Definitions:

Default

The failure to fulfill a financial obligation, such as not making the required payments on a loan.

Credit

The trust which allows one party to provide resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources at a later date.

Delinquency Letter

A notification sent by a lender to the borrower indicating a missed payment and the start of delinquency.

Collection Agency

An organization tasked with pursuing payments of debts owed by individuals or businesses.

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