Many financial terms may be unfamiliar to you, particularly those relating to debt enforcement and debt collection. The following a is Glossary of common financial terms. We have tried to give definitions in plain english.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Acceptance Date

Act of bankruptcy

Arrears

B

Bankruptcy

Bankrutpcy Act 1966

Bankruptcy Notice

Bankruptcy Offence

Benefit

C

Clear Out

Collateral

Completion Date

Consultancy Fee

Controlling Trustee

Credit History

Creditor

Creditor’s Petition

Current Amounts

D

Debit

Debt Agreements

Debt Agreement Administrator

Debt Agreement Proposal

Debt Collector

Debtor

Debtor’s Petition

Default

Default Notice

Discharge

Dividend

Divisible Asset

E

Examinable Affairs

Exempt Assets

Extension of Bankruptcy

F

Foreclosure

G

Garnishee

H

Household Property

I

Income Contribution

Insolvent

ITSA

J

Joint Debts

Judgment

K

L

Legal Action

Lender

M

N

Non-Conforming Lender

Non-Divisible Asset

NPII

O

Official Receiver

Overdue Account

P

Part IX (Nine) Debt Agreements

Part X (Ten) Agreements

Pay Day Lender

Personal Insolvency Agreements

Preferential Payment

Prescribed Information

Proposal to Vary the Agreement

Protected Money

Provable Debt

Q

R

Registered Trustee

Rent to Buy/Rent Try Buy

S

Secured Debt

Security

Selling Debts

Sequestration Order

Shortfall

Summons

T

Termination

U

Unsecured Debts

V

Voting Period

W

Writ

X

Y

Z