Explain what important information we can get from each sources of credit information to be able to make a decision whether or not we can extend credit to the loan applicant

Q: Explain the characteristics of credit products.

A: When the banks or any financial institutes commitments or guarantees on the behalf of the customers…

Q: What are industry benchmarks, and why are they used in the credit evaluation process?

A: The answer for the question on the industry benchmarks used in the credit evaluation process is…

Q: What do I need to do to build a solid credit history and how can I maintain it?

A: credit score history is a method to judge a customer's capability of paying his credit amount taken…

Q: Determine the decision nature of each of the following issues: Will we purchase on credit or will we…

A: Purchase decision can be defined as the thought process that leading a consumer from identifying a…

Q: List and explain the differences between a self managed credit plan and a contracted credit plan.

A: A credit is a type of loan taken by individuals or corporations in which the borrowers borrow an…

Q: How do sellers benefit from allowing their customers to use credit cards?

A:

Q: Define credit terms

A: Credit refers to the amount of money which is lend to the borrower for certain period of time.

Q: Find an Example of a Commercial credit policy from the internet and highlight thei important parts…

A: The commercial credit, often known as the business credit sheet, corresponds to a sum of the…

Q: Give an example of consumer credit and explain the process how it is processed from application to…

A: The customer is allowed to ask for credit in case of no availability of funds. The suppliers provide…

Q: How does credit scoring operate, and how are we as consumers and users of credit effected by it?

A: Credit Scoring - Credit scores are calculated with the help of the details of the old payment…

Q: Illustrate some examples in the area of loan transactions?

A: Loan transactions Accounting: Loans refer to one of the best options for financing. Every business…

Q: Where i can used credit union

A: Whenever a group of people collect deposits and use those deposits to give loans, it is known as…

Q: what is credit management

A: Credit Management is a process wherein terms and condition for providing loan is decided, what is…

Q: What is the difference between your credit report and your credit score? What is a good credit…

A: Introduction to Credit report A credit report is prepared by a credit bureau and is a breakdown of a…

Q: When a lender looks at your FICO credit score to decide whether to lend to you, which of the "Five…

A: When a lender looks at your FICO credit score to decide whether to lend to you, he is considering…

Q: Discuss, in general, what it means for the brothersto set a credit and collections policy

A: Answer: Credit and collection policy refers to the laws and regulations of the company governing the…

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: what is credit and why is it important how do you build your credit how do you check your credit…

A: Credit is a very important part of meeting one’s personal financial objective. It is used by…

Q: When a lender looks at your FICO credit score to decide whether to lend to you, which of the “Five…

A: The five Cs of credit is a system used by lenders to get the creditworthiness of borrower

Q: A credit manager who is concerned about a client's viability might take all of the following steps…

A: Credit manager works for the management of credit on client behalf. Normally responsible for credit…

Q: What are the main definitions of credit facilitation, billing and invoicing, remittance processing,…

A: Credit facilitation-Credit facilitator refers to a person in the CFP Online System who is designated…

Q: What section of FASB provide guidance on referral credit paid to customers?

A: FASB stands for "Financial Accounting Standards Board , which was established in the year 1973.It is…

Q: In your own definition what is credit and what is collection

A: The businesses tend to conduct their operations not only on a cash basis but also on a credit basis.…

Q: mportance of a credit score for financial planning.

A: Since there are multiple questions are given, so as per answering guidelines we do only first one.

Q: Identify and explain credit scores and credit reports including accessing them

A: Credit is defined as the trust, which helps in allowing one party for providing the funds or…

Q: Credit selection involves the application of techniques to determine which customers should receive…

A: Credit selection refers to the decision to whether the company should extend the period or the…

Q: Explain whati mportant information we can get from each sources of credit information to be able to…

A: The answer is given below:

Q: Which of the following is true of a credit applicant's character? a. It reflects any unique…

A: Credit applicant is that person who has applied to some firm, business or institution for taking or…

Q: How do I find the credit for partial payment?

A: Discount is a selling goods or service below the price of goods. This reduction in price is offered…

Q: ovide example of accounting treatment for transactions related to loan in two situations as…

A: Loan : It is the amount which is borrowed by the individual to fulfil his/her needs. When amount…

Q: definition and the use/s of SWOT Analysis

A: Since you have posted multiple sub-part questions, we will solve the first question for you. To get…

Q: t step in lending process

A: Bank lending policy refers to the policy and guidelines developed by a bank to make the lending…

Q: What is the objective of having a control system and what is the key points of a credit control…

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: why loan officer prefer accrual basis accounting

A: The financial statement of a firm can be prepared based on accrual basis of accounting or cash basis…

Q: Choose one as the most important Cs of Credit and explain why?

A: In order to determine the creditworthiness of the borrower, a lender conducts a thorough analysis of…

Q: Discuss the major factors that a lender should take into account when deciding whether to grant a…

A: There are many factors lender should consider while giving term loans.

Q: Identify the following users as either external users (E) or internal users (I). Lenders

A: Accounting users: Accounting users are the persons, who use accounting information for investment…

Q: Who needs credit and collection management and why do they need ccm?

A: when the revenue cycle management for the credit and collection management is done by the healthcare…

Q: discuss the process of applying for a business loan.

A: A business loan is a loan that is intended primarily for business purposes. It includes the…

Q: Which of the following shows the timeline of the loan from the lender's perspective?

A: A lender is the one who lends to the other party. In return, the lender receives the sum with an…

Q: Effective credit management involves establishing credit standards for extending credit to…

A: Company provide credit to customers and discount to customers to increase sales.

Q: Discuss the trade-off in choosing to update the customer credit, should the sales clerk ever be…

A: The credit limit of each customer is decided by the credit manager based on the customer's credit…

Q: Documents of credit appraisal for individual loan.

A: Credit appraisal basically refers to assessing a particular loan application or proposal in a…

Q: ence between yo

A: Introduction : In simple words, the ability of an individual to purchase a commodity with the intent…

Q: Define consumer credit markets

A: CONSUMER CREDIT MARKET-             Consumer credit refers to short- and intermediate-term personal…

Consumer Credit Counseling Services

Credit counseling teaches consumers about credit, budgeting, money management, and debt management. The counselor ensures that consumers can pay off their debts without declaring bankruptcy. Counselors also assist the negotiator, who negotiates with creditors on behalf of their clients to reduce interest rates on outstanding debt. Counselors can offer credit counseling to customers before or after they take on debt. Consumer Credit Counseling Services (CCCS) is a non-profit organization that offers credit counseling services. Some organizations can also be for profit. This type of organization comprises a group of professionals who are skilled negotiators.