The borrower's attitude toward his or her credit obligations is called :_______.
a. conditions
b. capital capacity
c. character
d. collateral

Question

28-07-2022
Social Studies

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The borrower's attitude toward his or her credit obligations is called :_______.
a. conditions
b. capital capacity
c. character
d. collateral

Respuesta :

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smecloudbird17 smecloudbird17 · Answer 1 · 2022-08-10T15:04:00+02:00

The borrower's attitude toward his or her credit obligations is called character.

A credit obligation is a legally binding agreement which a borrower undertakes by guaranteeing repayment of a loan. A credit card agreement is one example of how a credit obligation is created.

There is a certain attitude of borrower's toward his or her credit obligations which is called character. Character helps lenders discern your ability to repay a loan. Here character refers to your credit history, or how you've managed debt in the past.

Hence, your credit report will show all debts from the past 7 to 10 years.

To learn more about credit obligation here:

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The borrower's attitude toward his or her credit obligations is called :_______. a. conditions b. capital capacity c. character d. collateral

Respuesta :

Otras preguntas

The borrower's attitude toward his or her credit obligations is called :_______.
a. conditions
b. capital capacity
c. character
d. collateral