Question

Lenders use the three Cs to establish a person's creditworthiness. Which of these statements defines \"character\" of the three C's?.
A.) The total assets of a borrower, such as savings, investments, valuables, and property..
B.) A borrowers financial status and ability to repay the debt from regular income..
C.) A borrowers reliability and willingness to repay the loan..

Answer 1

The correct answer is C.) A borrowers reliability and willingness to repay the loan.

Characters deals with the honesty of the person asking for a credit. It is based on previous history and knowledge about the person, not just his/hers papers and money.

Answer 2

Answer:

C.) A borrowers reliability and willingness to repay the loan..

Explanation:

From your credit history, the lender will try to decide if you have the necessary reliability and honesty to pay back your loan. He or she will consider if you have used credit before, if you can provide character references and other things.