Consumer Credit Service

Definition

  • A service that offers counselling for creating a realistic budget and a debt repayment plan. The service also offers advice for working with creditors to ensure that debts are paid back over a certain time.

Synonyms
money management, credit counselling, debt relief, credit help, budgeting

Acronyms
CCS

Related Terms and Acronyms

  • Consumer Bankruptcy Definition,
    • A bankruptcy case filed to reduce or eliminate debts that are primarily consumer debts.
  • Consumer Credit Definition,
    • Loans for personal use as opposed to business or commercial lending. These loans are typically unsecured and not backed by collateral.
  • Debt Consolidation Definition,
    • The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. CanEquity has access to Canada's best debt consolidation products, for more info about debt consolidation see our debt consolidation page.
  • Home Equity (HE) Acronym, Very Important,
    • The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.
  • Upside-down Definition,
    • A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property purchased with the loan. See also "Depreciation."
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage