Korea Credit Counselor (신용상담사) flashcards
Korea Credit Counselor (신용상담사) · Build recall with a focused review session.
21 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Net worth
- The difference between a household’s stated assets and liabilities at a specified date, distinct from recurring income.
- Cash-flow statement
- A record of receipts and payments over a period, used to identify surplus, deficit and timing mismatches.
- Liquidity
- The ability to meet payments using resources available at the needed time without unacceptable delay or loss.
- Planning horizon
- The period over which a particular goal and its funding need are evaluated, which can differ across goals.
- Risk capacity
- The financial ability to absorb adverse outcomes without undermining essential obligations, distinct from emotional willingness to take risk.
- Engagement scope
- The agreed services, responsibilities and boundaries of the planner-client relationship, including relevant information and compensation arrangements.
- Monitoring
- Periodic assessment of implementation, outcomes and changing circumstances to decide whether a financial plan requires adjustment.
- Debt adjustment
- An agreed change to debt terms under a relevant framework, which must be distinguished from a judicial discharge.
- Repayment capacity
- The amount a debtor can realistically direct toward obligations after considering reliable resources and necessary living requirements.
- Secured debt
- A debt supported by a specified security interest, whose consequences depend on the collateral and applicable legal arrangement.
- Unsecured debt
- An obligation without the particular collateral support of a secured claim, still subject to its contractual and legal rights.
- Rehabilitation process
- A formal procedure intended to address financial distress under applicable law, with eligibility and effects determined by that framework.
- Discharge
- A legal release from specified obligations under the relevant procedure, which should not be assumed to cover every debt automatically.
- Arrears
- Payments that have fallen due and remain unpaid, whose timing and nature can affect available responses.
- Debt verification
- Checking the creditor, basis, principal, interest and other claimed amounts against reliable records before accepting a demand.
- Guarantee
- A separate legal commitment concerning another party’s obligation, whose existence and scope require the applicable agreement and law.
- Conflict of interest
- A competing interest that can affect professional judgment, requiring appropriate disclosure and management rather than concealment.
- Credit information
- Information relevant to creditworthiness or credit transactions, whose collection, use and disclosure remain subject to applicable controls.
- Prescription
- A legal time-related doctrine affecting a claim, requiring analysis of the type of claim and relevant events rather than a guessed deadline.
- Attachment
- A legal process affecting specified assets or claims, with scope and exemptions determined by the applicable Korean framework.
- Client autonomy
- The client’s ability to make an informed choice about available options without deceptive assurances or coercive pressure.