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Relating to borrowing money and owing money

borrowing

noun

the practice of borrowing money

borrowing powers

noun

the amount of money that a company or individual is able to borrow

compound interest

noun

interest that is based both on an amount of money that someone has borrowed or saved and on the interest that has been added to it

credit default swap

noun

a financial instrument for protecting against the risk that a company or organization will not pay money that they owe. The buyer pays interest to the seller and receives a large amount of money if the debt is not paid. The seller receives interest from the buyer and pays them a large amount of money if the debt is not paid.

creditor

noun

a person or company that is owed money by another person or company

creditworthiness

noun

the degree to which a person, organization, or country is considered likely to pay back money that they borrow

creditworthy

adjective

likely to pay back money that you borrow

debt collector

noun

someone whose job is to make people pay back the money they owe

extension

noun

extra time that you are given to pay money that you owe

financier

noun

a person or an organization that manages or lends large amounts of money

foreclose

verb

to take someone’s property because they failed to pay back the money that they borrowed to buy it

guarantee

verb

to agree to pay back the money that someone else owes if they cannot pay it back themselves

guarantee

verb

if a valuable object guarantees something, it is given to someone until you have paid the money that you owe or have done the thing that you promised to do

guarantee

noun

an agreement to pay back money that someone else owes if they cannot pay it back themselves

guaranteed

adjective

a guaranteed loan will be paid even if you cannot pay it, because someone else has agreed to pay it or your property will be sold to pay it

guarantor

noun

someone who makes an official agreement to be responsible for money that someone else owes, or for someone else’s behaviour

interest-free

adjective

not charging you any interest on the money you borrow or the credit you are given

irredeemable

adjective

an irredeemable debt can never be paid

lien

the legal right to keep someone else’s property until you get back the money that they owe you, or the right to sell their property as a way of getting your money back

loan shark

noun

someone who lends money to people and charges them a very high rate of interest

moneylender

noun

a person or organization that lends money to people, especially at a high rate of interest

the never-never

noun

the system of buying things on credit

owe

verb

if you owe someone money, you have to give them a particular amount of money because you have bought something from them or have borrowed money from them. Money that you owe is called a debt

pledge

verb

to give something valuable to someone as a way of promising that you will pay them money later

pledge

noun

something valuable that you give to someone as a way of promising that you will pay them money later

prime rate

noun

the lowest rate available for borrowing money

principal

noun

the original amount of money that someone borrows, which is paid back with additional money called interest

put on

to record something in an account so that someone can pay for it later

quits

adjective

in a situation where neither of two people owes the other one anything

refinance

verb

to replace one loan with another one on which you pay less interest

revolving fund

noun

an amount of money that is available to be borrowed and is then replaced so that it always remains the same amount

roll over

to agree that an amount of money that someone owes can be paid back at a later date

securitization

noun

the process of gathering together loans such as mortagages and changing them to securities to sell to other people

security

noun

property or goods that you agree to give to someone who has lent you money if you cannot pay the money back

soft loan

noun

an arrangement in which a country or organization borrows money at a low rate of interest

toxic

adjective

used to describe a loan or other financial agreement which causes very serious business problems for a bank or financial organisation

usurer

noun

someone who lends money to people and charges interest

usury

noun

the practice of making people pay interest when you lend them money

write off

to say officially that someone does not have to pay an amount of money

write-off

noun

an agreement that allows someone not to pay back the money that they owe

foreclosure

noun

interest free

adverb

loan-sharking

noun

call it quits

to agree that neither person owes the other one anything

on tick

on credit (=paying later)

see the colour of someone’s money

to have proof that someone is going to pay you

stand surety (for someone)

to be responsible for paying money that is owed or for making certain that someone goes to court when they should

Open Dictionary

chicken raffle

any random process, such as a competition in which a name is drawn from a hat

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