M Flashcards
1
Q
What is Means Testing?
A
Means testing is the method the government uses to decide if you’re eligible for certain benefits.
2
Q
What is a Minimum Payment?
A
This is the lowest payment a creditor will accept for a debt, unless a reduced payment plan has been arranged.
3
Q
What is Monthly Expenses?
A
Items you pay for each month. They include your household bills and payments to your debts.
4
Q
What is Mortgage?
A
A loan that you take out to buy a house. If you miss payments to a mortgage, your lender could try to repossess your property.
