Examlex
Synovial joints have six distinguishing features. What are they?
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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