Help & Glossary
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D
dba - Doing business as.
Debt - An obligation owed by one to another.
Debtor - One who owes a debt to another. This can be a person, company, government, or any entity.
Default - A failure to do, pay, or finish something as required by the terms of a contract.
Deficiency - A lack or shortage. The difference between what is owed and what has been paid.
Delinquency, Delinquent - Overdue, falling behind on payments on a debt. Failure, omission, or misconduct.
Demand - A forceful claim that presupposes that there is no doubt as to its winning. The assertion of a legal right.
Deposition - A witness' sworn testimony, taken with lawyers present, out of court.
Depreciation - Reduction in worth due to deterioration or passage of time.
Detail - Commonly used to describe the cleanup and other in depth reconditioning of a used car.
Direct Loan/Lease - A loan or lease made directly to the borrower by the lender without a dealer or broker.
Discharge - Release, remove. To discharge a contract is to end the obligation. Discharge in bankruptcy is to release a person or firm from their debts.
Discovery - The formal and informal exchange of information between sides in a lawsuit through interrogatories and deposition.
Dismissal - In bankruptcy a dismissal is a court order to put the filing out of court as if it never happened. Other lawsuits may be dismissed 'with prejudice' or 'without prejudice'.
Down Payment - The initial cash payment made when buying something on an installment contract.
Draft - A negotiable instrument for the payment of money drawn by one person to another.
Drive By - A slang expression for a field agent passing by an address looking for a vehicle which has been assigned to be repossessed.
Duces tecum - Latin for 'Bring with you'. A type of subpoena that requires production of records, either in person or by mail.
Duck, A Sitting - A slang expression used to describe a vehicle which has been assigned for repossession which is sighted the first time the location is checked in an easily accessible position. An easy repo.
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