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Credit Information - Law Dictionary Search Results

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Credit information

..... the reserve bank consider necessary for inclusion in the credit information to be collected and maintained by credit information companies and specify by notification in this behalf credit information companies regulation act 2005 s 2 d

Credit Information Company

credit information company means a company formed and registered under the companies act 1956 1 of 1956 and which has been granted a certificate of registration under sub s 2 of s 5 credit information companies regulation act 2005 30 of 2005 s 2 e

Specified user

specified user means any credit institution credit information company being a member under sub section 3 of section 15 and includes such other person or institutions as may be specified by regulations made from time to time by the reserve bank for the purpose of obtaining credit information from a credit information company credit information companies regulation act 2005 30 of 2005 s 2 l

Client account

..... or is proposed to be assessed by credit institution or any other person or institution as may by notification be directed by the reserve bank credit information companies regulation act 2005 s 2 ..... guarantor or a person who proposes to give guarantee or security for borrower of a credit institution or ii a person a who has obtained or seeks to obtain financial assistance .....

Credit scoring

credit scoring means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him credit information companies regulation act 2005 30 of 2005 s 2 g

Board

..... as directors by the shareholders in public companies means the board of directors of a credit information company credit information companies regulation act 2005 30 of 2005 s 2 a

Borrower

..... any person who has been granted loan or any other credit facility by a credit institution and includes a client of a credit institution credit information companies regulation act 2005 30 of 2005 s 2 .....

public record information

public record information court records of events that are a matter of public interest such as credit bankruptcy foreclosure and tax liens the presence of public record information on a credit report is regarded negatively by creditors source u s department of housing and urban development

mortgage score

mortgage score a score based on a combination of information about the borrower that is obtained from the loan application the credit report and property value information the score is a comprehensive analysis of the borrower s ability to repay a mortgage loan and manage credit source u s department of housing and urban development

fico score

..... three major credit bureaus and is usually between 300 and 850 source u s ..... based on credit history lenders and credit card companies use the number to decide if the person is likely to pay his or her bills a credit score is evaluated using information from the .....

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