10:32
@BulbasaurNoLikeCardio: Yeah but like half the general officers are compromised so we might as well just give this country to China already. The head of the JAG corps used to tell us how much he loved Tiktok and he was a 1 star. These people should be court martialed. I hope Trump follows through on that promise the most.
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LSDefine
Simple English definitions for legal terms
credit file
Read a random definition: political
A quick definition of credit file:
A credit file is a record of how someone borrows and pays back money. It helps banks and other lenders decide if someone is trustworthy enough to lend money to. Credit files are made by companies that collect information from banks and other places where people borrow money. The file has information like a person's name, address, phone number, and how much money they owe. It also shows if they have paid their bills on time or if they have had problems with money in the past. People can see their own credit file by asking for a copy from one of the three main companies that make them. Sometimes people freeze their credit file to stop bad people from looking at it without permission.
A more thorough explanation:
A credit file is a record of an individual's borrowing and repayment history. It contains information that determines their credit score, which is used by financial institutions to assess their creditworthiness. Credit files are created by credit reporting agencies and updated regularly with data from financial institutions and companies.
- Name, Social Security number, address, phone number
- Types of debt, dates accounts were opened, highest balances, current account balances, payments
- Bankruptcies, liens, judgments, and delinquent accounts
- Information on who has inquired about a consumer's credit in the past two years, and when each inquiry was made
- Current and former employers
For example, if a person has a credit card and makes payments on time, this information will be included in their credit file. If they miss payments or default on a loan, this negative information will also be recorded in their credit file. Financial institutions use this information to determine whether to approve a loan or credit application.
Another example is when a person applies for a mortgage. The lender will review their credit file to determine their creditworthiness and decide whether to approve the loan and at what interest rate.
Overall, a credit file is an important record of an individual's financial history and can have a significant impact on their ability to obtain credit in the future.