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Bankers Guru
A debit may be an account entry representing money you owe a lender or money that has been taken from your deposit account.

Debit Card:
A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines or purchase goods or services using point-of-sale systems. The use of a debit card involves immediate debiting and crediting of consumers' accounts.

Debt Collector:
Any person who regularly collects debts owed to others.

Debt Elimination Scheme:
A debt elimination scheme is a plan that is advertised as a way for an individual to eliminate various types of debt simply by paying someone a small fee compared to the amount of debt to be eliminated. These schemes are fraudulent.
As a result of using a fraudulent scheme, individuals will lose money, could lose property, will damage their credit rating, and possibly incur additional debt. In addition, a creditor may take legal action against an individual to resolve a fraudulent attempt to eliminate debt. It is also possible for the victim to have identify theft occur by participating in such a fraudulent scheme.

Someone who owes monies to another party.

Debt-to-Income Ratio (DTI):
The percentage of a consumer's monthly gross income that goes toward paying debts. Generally, the higher the ratio, the higher the perceived risk. Loans with higher risk are generally priced at a higher interest rate.

A deceased person, ordinarily used with respect to one who has died recently.

Deferred Payment:
A payment postponed until a future date.

A debt that was not paid when due.

Demand Deposit:
A deposit of funds that can be withdrawn without any advance notice.

Deposit Slip:
An itemized memorandum of the cash and other funds that a customer presents to the bank for credit to his or her account.

Derogatory Information:
Data received by a creditor indicating that a credit applicant has not paid his or her accounts with other creditors according to the required terms.

Direct Deposit:
A payment that is electronically deposited into an individual's account at a depository institution.

Direct Dispute:
A dispute submitted directly to the furnisher about the accuracy of information in your consumer report that relates to an account or other relationship you have with the furnisher.

Certain information that Federal and State laws require creditors to give to borrowers relative to the terms of the credit extended.

A signed, written order by which one party (the drawer) instructs another party (the drawee) to pay a specified sum to a third party (the payee), at sight or at a specific date. Typical bank drafts are negotiable instruments and are similar in many ways to checks.

The person (or bank) who is expected to pay a check or draft when it is presented for payment.

Drawee bank:
The bank upon which a check is drawn.

The person who writes a check or draft instructing the drawee to pay someone else.

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