Consumer debts - Debts incurred for personal, as opposed to business, needs.⏎
De jure - Latin, meaning "in law." Something that exists by operation of law.⏎
Equitable - Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy (see damages). A separate court of "equity" could order someone to do something or to cease to do something (e.g., injunction). In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases.⏎
Collateral - Property that is promised as security for the satisfaction of a debt.⏎
Default judgment - A judgment awarding a plaintiff the relief sought in the complaint because the defendant has failed to appear in court or otherwise respond to the complaint.⏎