Federal Reserve System (The Fed)
The central bank of the United States, often referred to as the Fed, conducts monetary
policy through regulation in the supply of money.

Filer
A person who filed for bankruptcy.

Finance Company
A business that specializes in lending financial commodities to individuals, often with bad credit or no credit, and does not take deposits like a commercial bank.

Financial Institution
A company or enterprise that performs financial tasks, such as holding deposits, issuing loans or investing in securities, for consumers, businesses or the federal government.

First Mortgage
The initial loan on a property that has precedence over all other debts on the property.

Fixed Rate
A predetermined percentage of interest applied to the principal on an extension of credit.

For-profit Company
A debt-relief agency that does not receive subsidies or compensation from credit card
companies to help customers relieve debt problems.

Foreclosure
The procedure that occurs when a mortgage lender gains ownership of a property after the homeowner failed to make proper payments.

Good Debts
An investment that generates value, such as a mortgage or student loan.

HELOC
Acronym for home equity line of credit.