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GLOSSARY TERMS
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Glossary Term G – 100 Best Credit Reports

Garnishment

When a creditor legally seizes a debtor's assets in order to pay off the debt.

Grace period
A period of time after a due date and before late fee charges. If a bill is paid in full during this time then there are no interest charges.

Gross monthly income

An individual's total regular income over the space of one month.



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