Late payers Flashcards
bank charges
sums of money paid by a customer for bank’s services
bookkeeping
the job of keeping a record of the money that has been spent or received by the business
credit limit
the maximum amount of money that you can borrow from a bank
credit worthiness
calculation of someone’s ability to pay back money which they have borrowed
debtor
someone that owes money
factoring
system of buying debts for less then they are worth and then obtaining payments from the debtors
outgoings
amounts of money that regularly have to be spent (heating, rent)
overdraft
amount of money that a bank customer with an account is temporarily allowed to owe the bank
overtrading
operating a business while not having enough money to pay creditors and employees
shortfall
amount which is less than the level that was expected or needed
constraints
things which limit your freedom of action
punitive charges
charges which are used to punish someone
undue
to a level that is more than necessary or reasonable
upfront
in advance
overdue
late
