Glossary
Straight definitions for the terms that show up in collection letters, court paperwork, and IRS notices — each one links out to the debt types, situations, and states it actually applies to.
Debt Collection Terms
Core vocabulary for dealing with collectors, collection agencies, and debt buyers.
Bankruptcy Terms
Terms used in Chapter 7 and Chapter 13 consumer bankruptcy.
Credit & Credit Reporting Terms
Terms covering how debt and its resolution show up on a credit report.
IRS Notice & Collection Terms
The escalating sequence of IRS notices and enforcement tools used to collect unpaid tax debt.
Medical Billing & Collection Terms
Terms covering how hospitals bill, offer financial assistance, and collect on medical debt.
Employment & Income Terms
Terms covering income disruption events — layoffs, furloughs, shutdowns — and the legal protections that do or don't apply to them.
Housing & Mortgage Terms
Terms covering mortgage servicing, escrow, and insurance mechanics that can turn into a missed-payment or foreclosure risk.
Investing & Margin Terms
Terms covering leverage, margin calls, and forced-liquidation mechanics that can turn an investing loss into a debt owed directly to a brokerage.