This preview shows page 1. Sign up to view the full content.
Unformatted text preview: credit lender. If you cannot pay your loan you will have to give them something valuable in place of repayment. Character tells the lender about your previous credit, employment, and education history. If your history is good than your lender assumes that you are less likely to default on your loan. Conditions are that if you do not have a sufficient history the lender may still approve you. The only way that the creditor will consider your loan is if you have a cosigner. A cosigner is someone that has a sufficient credit history that takes full responsibility for paying your loan if you default....
View Full Document
This note was uploaded on 03/17/2012 for the course ALL all taught by Professor All during the Spring '10 term at University of Phoenix.
- Spring '10