Glossary beginning with D

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D

Damages: This is the amount of compensation that’s paid by a losing party to the winning party in a litigation case
Debt: If you’ve borrowed money, then you are ‘in debt’, typically owing interest as well as the money initially borrowed.
Debt law: This is the area of law that governs the process of recovering debts from individuals.
Defamation: Defamation is the publication of a statement that lowers the estimation of an individual in the eyes of the public.
Defined benefit: In this type of pension scheme, members receive a set pension income on retirement – based on their final salary, how many years they’ve been working for the company. It’s also known as a final salary scheme.
Defined contribution: In this type of pension scheme, the amount of money you will have in your retirement fund depends on the amount of money you put in, where the money was invested and how much it grows. It’s also known as a money purchase scheme.
Direct Debits: These are payments that are made on a regular basis from your bank account on an agreed date. You arrange this with the company you’re paying, by giving them your bank details. For example, phone bills and utility bills are often paid by Direct Debit.
Disbursements: These are expenses that are incurred by the solicitor or other professional adviser on your behalf. They can include things like search fees in home purchases, medical reports in personal injury cases, any court or professional fees, or even their travelling expenses.
Discounted mortgage: A discounted mortgage is one with a discounted variable rate of interest for a set period, after which the rate may increase.
Diversification: This is the process of spreading – or ‘diversifying’ – your investments over a range of assets, so that you reduce your exposure to risk. By diversifying your investment, if one type of investment falls in value, then the remaining ones may not fall at the same rate, or at all.
Dividends: These are payments that are made to shareholders by a company from any profits that the business has made.