Common Credit Management Terms

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  • Charge
    A lien, preference or financial obligation attached to property.

  • Collateral
    Property that is pledged as security against a debt.

  • Conditional discharge
    Discharge of a bankrupt with specific conditions to be fulfilled before receiving an absolute discharge.

  • Conditional sale
    The sale of goods where the buyer receives possession of goods or property, but does not receive title to them until specific conditions are fulfilled.

  • Conservatory measures
    Actions taken to preserve the interests of the bankrupt's estate under the Act.

  • Corporation
    An entity (usually a business) having authority under law to act as a single person distinct from the shareholders who own it, and has the legal powers that its articles of incorporation grant it.

  • Creditor
    One to whom a debt is owed; in insolvency matters, a person or corporation having a claim provable under the Act.

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This glossary is presented as a service to our members and the general public. Click on the highlighted letter above and it will take you to the alphabetical section for the term you are seeking. As a new service, we welcome your suggestions to expand our glossary. Think a term should be explained differently? If so, you are welcome to submit the term and its meaning for our consideration. However, you must not do so by violating copyright and other laws. Don't see the term you're looking for? Contact us at geninfo@creditedu.org so we can help you.