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The Four C’s: Analyzing a Credit Application

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The Four C’s: Analyzing a Credit Application

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There are four major elements of a general underwriter’s guidelines in reviewing and analyzing a credit application.

We Call it The Four C’s:

Credit – You’ll have a low credit score and a “bankruptcy” notation on your credit report. Be persistent in determining eligibility requirements before applying for credit.

Capacity – Your current income and cash flow will be considered during this phase. Bankruptcy’s elimination of a large amount of your monthly “expenses” can be beneficial in this phase.

Collateral – This refers to assets such as cars, real estate, or retirement accounts that survived your bankruptcy. Lenders like to see assets survive a bankruptcy because they can serve as security.

Character – You filed bankruptcy. But this isn’t all the lender will see. You may also have a long work history, a history at your residence, a marriage, children, a college education, etc. All are indications of your character.

If you need assistance with bankruptcy or have questions about how to file bankruptcy without destroying your credit, please contact one of the experienced southern California bankruptcy attorneys at Westgate Law.

About the Author

Justin Harelik
Justin has a singular goal: to get people out of financial distress and move them to financial stability and prosperity. He does this by combining 15 years of in-depth experience in bankruptcy, credit management, debt negotiation and student loan modifications, and he does it with both English and Spanish-speaking clients.

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