Capital

Capital is money that you use to generate income or make an investment

Capitalising Arrears 

Adding arrears to the mortgage balance which has the effect of extending the term of the mortgage or increasing the payments. 

Capped Rate

A capped rate is an interest rate or price that can vary but it will have a fixed amount that it won't go above. This often applies to products such as mortgages & energy bills.

Certificate Of Satisfaction

This is a document from the court as proof that a court order, such as a county court judgment, has been paid. 

Charge For Payment (Scotland)

A charge for payment is a legal notice served in Scotland. It orders you to pay the debt in full within a certain amount of time.

Charging Order

A charging order attaches an unsecured debt against a property or land. It turns an unsecured debt into a secured debt. If you have a county court judgment your creditor could apply for a charging order. 

Child Benefit

Child benefit is a regular (weekly or 4 weekly) tax-free benefit payment made to anyone who is responsible for a child or young person. In most cases it's paid until the child is 19 as long as they’re in full time education or training. 

Child Tax Credit

Child tax credit is a means-tested benefit for parents & carers of children & young people. In most cases it's paid until the child is 19 as long as they’re in full-time education or training. 

Civil Procedure Rules (CPR)

Rules governing the procedures used by the Court of Appeal, High Court of Justice, and County Courts in civil cases in England and Wales, largely replacing the Rules of the Supreme Court and the County Court Rules. They were designed with an overriding objective of improving access to justice by making legal proceedings cheaper, quicker, and easier to understand for non-lawyers. 

Citizens Advice 

The national organisation of Citizens Advice providing membership to local Citizens Advice Offices. 

Citizens Advice Bureau 

A local Citizens Advice Office, governed by a local Trustee Board. 

Claimant 

The party, either a person or an organisation who starts a court case. 

Claim For Possession 

The court procedure most landlords, lenders or freeholders have to follow in order to evict a tenant or homeowner. 

Common Financial Statement 

The financial statement produced after debt advice using industry standard expenditure guidelines. Licenced by the Money Advice Trust in partnership with the British Bankers Association and other sector partners. (To be replaced with the Standard Financial Statement in 2016).

Company Pension

A company pension is a pension plan where you & your employer make a monthly contribution. The amount you pay is tax free. From October 2012 every employee will be automatically opted in to their employer’s pension plan.

Company Voluntary Arrangement (CVA)

This is similar to an IVA, but is a debt agreement between a company and its creditors to repay the company’s debts when the company is insolvent. The company can carry on trading an a CVA but will risk being wound up if the CVA arrangement is broken.

Competent Authority 

Debt and / or financial advice organisations designated by the Secretary of State to authorise members of the debt advice sector to act as approved intermediaries. 

Composition Order 

When a judge is considering whether to grant an administration order they may decide to make a composition order as well. This has the effect of limiting the percentage of the debt payable and or the length of time payable and where the rest is effectively written off. 

Conditional Sale

Conditional sale is a type of credit agreement where you don’t own the goods until you’ve made all of the payments set out in the credit agreement. If you miss payment the goods may be repossessed. 

Conditional Sale Agreement 

An agreement to buy goods by instalments where the buyer can take possession of the goods but will only own them on the condition that they have paid all the instalments. The agreement may also have other conditions to be met before ownership can take place. 

Consolidated Attachment of Earnings Order

Where the debtor has more than one attachment and the court can be asked to split the payment between the creditors  

Consumer Credit Act

Legislation covering most credit provision including the way in which consumer credit licensees carry on business; rules include activities such as advertising, pre-contract disclosure, credit agreements and post-contractual information. In addition, the Act confers certain rights on consumers, including in relation to withdrawal from a credit agreement, early settlement, and joint and several liability.

Contents Insurance

Contents insurance is a type of insurance that contributes towards the cost of repairing or replacing possessions if they are stolen, lost or damaged.

Continuing Professional Development

A term used to describe a commitment to structured skills enhancement and professional competence. CPD schemes operate on a point system, which are gained by undertaking recognised training or other activities which improve development.

Contractual Monthly Instalment

The amount to be paid under a credit agreement or contract

Contractual Payment

A contractual payment is the amount that you agreed to pay back towards a debt each month when you first signed the credit agreement. If you don’t pay the contractual payment you will fall into arrears & it may affect your credit rating. 

County Court Claim

A county court claim is a legal process your creditors can use to collect an outstanding debt.

County Court Judgment

A county court judgment is a court order that tells you what to pay towards a debt.

Court Order 

A decision by a court ordering something to be done (e.g. a court order for eviction or payment of debt). 

Credit File

Your credit file contains details of the money you’ve borrowed & the payments you’ve made towards a debt. Your credit file will also have information about any types of credit you have applied for.

Credit Rating

Your credit rating is the method a creditor uses to assess whether they want to lend you money. All creditors will use different information to assess you & will score you differently.

Creditor

A creditor is a person or a company (usually a bank) who lends you money.

Critical Illness Cover

Critical illness cover is a type of insurance which provides a lump sum payment if you’re diagnosed with a specific illness.