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LESSON12
Credit Is Based on Trust
LESSON DESCRIPTION
AND BACKGROUND Explain the relationship between borrowing,
lending, and trust. The students solve a puzzle to learn about trustworthiness. They
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How to fill out credit is based on
How to fill out credit is based on
01
Gather all the necessary information for the credit application, such as personal identification, employment details, income information, and financial history.
02
Choose the appropriate credit application form provided by the lender or financial institution.
03
Start by entering your personal information, including your full name, date of birth, social security number, address, and contact details.
04
Fill in the employment section with details about your current job, employer's name, address, and duration of employment.
05
Provide accurate information about your income, including salary, additional sources of income, and any existing debts or financial obligations.
06
Fill out the financial history section, which may require information about your current assets, liabilities, and credit references.
07
Review the completed application form for any errors or missing information before submitting it.
08
Sign and date the credit application form to acknowledge the accuracy of the provided information.
09
Submit the filled-out credit application form to the lender or financial institution through the preferred method, such as online submission, mailing, or in-person delivery.
10
Wait for the lender's decision regarding your credit application and be prepared to provide any additional documentation or answer further inquiries if necessary.
Who needs credit is based on?
01
Credit is based on is needed by individuals who are looking to obtain financial assistance through loans or credit cards.
02
People who want to make large purchases, such as buying a house or car, often need credit to finance these transactions.
03
Entrepreneurs and business owners may require credit to fund their business operations or invest in growth opportunities.
04
Individuals who want to establish a credit history or improve their credit score also need credit to demonstrate their financial responsibility to lenders.
05
In some cases, credit may be necessary to cover unexpected expenses or emergencies.
06
Credit is also utilized by individuals who want to take advantage of various financial services and benefits offered by credit cards or lines of credit.
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What is credit is based on?
Credit is based on an individual's credit history and credit score.
Who is required to file credit is based on?
Any individual or organization that is seeking credit or a loan may be required to file credit based on their financial information.
How to fill out credit is based on?
Credit is typically based on filling out a credit application form provided by a financial institution or lender, including personal and financial information.
What is the purpose of credit is based on?
The purpose of credit is based on is to assess the creditworthiness of an individual or organization to determine if they are eligible for a loan or credit.
What information must be reported on credit is based on?
Information such as income, employment history, credit history, and assets may need to be reported on a credit application form.
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