which of the following statements is true? a. your bad loan payment record with one bank will not be…

which of the following statements is true? a. your bad loan payment record with one bank will not be considered if you apply to another bank for a loan. b. banks and other lenders share the credit history of their borrowers through credit bureaus. c. people have so many loans it is very unlikely that one bank will know about your history with another bank. d. if you missed a payment more than 2 years ago, it cannot be considered in a loan decision.

which of the following statements is true? a. your bad loan payment record with one bank will not be considered if you apply to another bank for a loan. b. banks and other lenders share the credit history of their borrowers through credit bureaus. c. people have so many loans it is very unlikely that one bank will know about your history with another bank. d. if you missed a payment more than 2 years ago, it cannot be considered in a loan decision.

Answer

Brief Explanations:

Banks and other lenders typically share borrower credit - history information through credit bureaus. A bad loan payment record can be accessed by other banks when you apply for a loan. Payment history, even if it's from over 2 years ago, can still impact loan decisions in some cases.

Answer:

B. Banks and other lenders share the credit history of their borrowers through credit bureaus.