Debt Advice Glossary
Family income benefit
Family income benefit is an insurance that, in the event of a claim, pays out a regular income for the remaining term of the policy, instead of a 'one-off' lump sum.
A final discharge is a court notice that shows your bankruptcy has ended. This document will mean you’re debt free and the bankruptcy period is over.
Final salary plans
A final salary plan is a pension that is based on the number of years of service and the value of your final salary.
A fixed rate is an interest rate that doesn’t changed for a set period of time.