Help me wid my hw ere! Explain 3 factors which the bank wud consider before granting a loan to a customer?
Answer:
Length of good credit history while maintaining a low balance,Any negative collection accounts or delinquencies.How many open credit lines are currently open(can count against as well as for).The FCRA says they cannot evaluate your creditworthiness based on income,race,color or occupation
how much the customer earns.
also if the customer is in sane mind.
and i dunno the other one. google it!
Type correctly god damn you!
You'll get no help from me with that language you chav!
credit history
assets
income
1. Income
2. Expenditure
3.Credit History
that should do you right!
Hope you are able to write your homework in proper English! How much income the person has and any savings/shares etc and the value of any property he owns..and as the guys have said, credit history. So divide it into income, assets and credit history
Credit history, debt-to-income ratio, and assets to collect ont he loan should the applicant default.
The first, and most important is:
1. The ability to fill out an application for an extension of credit written in English with words spelled correctly.
Then it would go into other things like credit worthiness and proof of employment. Take care of number one though before you move on.
Stable living status - Record of three years solid abode
Credit History
Employment status permanent - record of earnings
(1)The most important think the bank will consider is the customer's ability to repay. Therefore their income must offset their expenditure and also (2) The collateral they will use to secure the loan (asset) this if the loan requires security. (3) The bank may consider the security of your job, so if you change jobs frequently this may be viewed as instability.
Cash flow forecast for the next three years, what you will use the money for and when you will plan to pay it back.
incomings and outgoings on the account, account balances over the past 6 months, and hence your ability to pay
Your repayments track record
Your credit limit
What you say you're gonna use it for
Age,income and credit history...or i could educate you .xx
Income
employment
ability to pay.
Hi
I would think that the overriding consideration is whether or not there is at least a reasonable chance that the bank will recover what it's owed. This would be indicated by your credit history (how you've repaid debts in the past), your earning power and what you intend to with the money (this is probably the least important criterion)
I'm not a banker but this is how I understand personal lending works.
Good luck!
Being one of the loyal custemers. Being employed, haveing a good credit score from experion
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