After graduating from college last fall, Jessica Stevens took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin establishing her own credit history. Describe for Jessica several steps that she could take to begin building a strong credit record. Does the fact that she took out a student loan for her college education help or hurt her credit record?
Answer to relevant QuestionsCalculate your own debt safety ratio. What does it tell you about your current credit situation and your debt capacity? Does this information indicate a need to make any changes in your credit use patterns? If so, what steps ...Robert Denby has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Robert’s debt burden? What if his ...Harvey Singer recently graduated from college and wants to borrow $50,000 to start a business, which he believes will produce a cash flow of at least $10,000 per year. As a student, Harvey was active in clubs, held many ...Compare the consumer lending activities of(a) Consumer finance companies(b) Sales finance companies.Describe a captive finance company.What two questions should be answered before taking out a consumer loan? Explain.
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