What is Credit Worthiness?
An assessment of the likelihood that a borrower will default on their debt obligations. It is based upon factors, such as their history of repayment and their credit score. Lending institutions also consider the availability of assets and extent of liabilities to determine the probability of default. Read more for examples and further explanation including related video clips and also comments
Example explains Credit Worthiness
Several firms have developed rating systems to determine an individual or company’s credit worthiness. It is important for each person to keep track of their credit score because this is the main metric used by institutions when determining if the individual is worthy of a favorable rate.
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