OF TERMS - PAGE 5
Credit grantor — Business
or individual who gives a loan or line of credit; also referred to
as the creditor.
Cure defaults — Bring
accounts up-to-date that were past due at the time of filing.
Debt — Something that is
owed to another, normally money or property.
Debtor — The person or
entity who owes the debt.
Delinquent — Overdue, not
paid on the due date agreed to.
Deposition — The testimony
of a witness taken down in writing under oath. This is normally
taken outside of the courtroom in an informal setting.