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creditworthiness Tagged Articles



CREDIT SCORES: WHAT AFFECTS IT AND HOW IT AFFECTS YOU
Credit scores are fickle and hard to predict. Credit scores are determined by analyzing credit records and are supposed to show a person’s creditworthiness. Since the score uses so many different factors, it is impossible to know for sure how much an action will raise or lower your score. Different actions will impact your score in different ways, and those ways can change based on your current score.

ALTERNATIVE ENRICHMENT
Alternative financing may be the perfect solution for companies looking for additional means of securing adequate business funding. This form of financing may be used to carry a new venture through its early phases of development, restructure existing debts, or take the business to its next level. Conventional lenders such as banks and private lenders may shy away from riskier businesses and not focus on business credit. Furthermore, an established company may find itself needing additional capital, yet for various reasons is ineligible for a loan.

Other creditworthiness Related Articles

Why do MFIs charge such high interest rates to poor people? FAQ
Providing financial services to poor people is quite expensive, especially in relation to the size of the transactions involved. This is one of the most important reasons why banks don't make small loans. A $100 dollar loan, for example, requires the same personnel and resources as a $2,000 one thus increasing per unit transaction costs. Loan officers must visit the client's home or place of work, evaluate creditworthiness on the basis of interviews with the client's family and references, and in many cases, follow through with visits to reinforce the repayment culture. It can easily cost US$25 to make a microloan. While that might not seem unreasonable in absolute terms, it might represent 25% of the value of the loan amount, and force the institution to charge a “high” rate of interest to cover its cost of loan administration.

CREDIT SCORES: WHAT AFFECTS IT AND HOW IT AFFECTS YOU
Credit scores are fickle and hard to predict. Credit scores are determined by analyzing credit records and are supposed to show a person’s creditworthiness. Since the score uses so many different factors, it is impossible to know for sure how much an action will raise or lower your score. Different actions will impact your score in different ways, and those ways can change based on your current score.

Credit Alliance Group Explains FICO & Debt to Income Ratio Info
In the United States, a credit score is a number based on a statistical analysis of a person's credit files that represents the creditworthiness of that person, which is the likelihood that the person will pay their bills. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, Trans Union, and Equifax. Debt to Income Ration is another factor when it comes to your credit score.
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