The 6 C's Of Credit

1. CHARACTER: A.k.a. ones ‘Good Name’.
   
   
2. CAPACITY TO PAY: Means having the income to pay the loan back with interest.
   
   
3. CAPITAL: How much money the borrower has.
   
   
4. COLLATERAL: Does the borrower have anything of value? (like money, a home, or jewelry). Collateral can be taken away or (repossessed) if the borrower fails to pay back the debt.
   
   
5. CONDITIONS: Conditions include; the kind of job the consumer has, time on that job, how many years at the same address, how old they are etc.
   
   
6. CONFIDENCE:A successful borrowers Credit Report gives confidence or concern to the lender. Many consumers have Inaccurate and false information on their Credit Reports hurting their Credit Score.

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