what aspects are to be taken into consideration in assessing the creditworthiness of a prospective borrower

 

A consumer‘s creditworthiness has traditionally been determined by a number of

Factors, a few examples include:

·       Record of payments in the past

·       Income

·       Regular expenses

·       Current debt and the repayment of such

·       Employment When assessing the creditworthiness of the consumer, the

following credit qualities of the consumer must be investigated:

·       The payment record of the consumer

·       The income of the consumer

·       The current exposure in terms of debt of the consumer

·       The employment prospects of the consumer

·       The residence of the consumer

·       The age of the consumer

·       Marital status of the consumer

·       The need for the credit

·       The influence of any economic variables.