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LSDefine

Simple English definitions for legal terms

credit score

Read a random definition: Georgia Case-Law

A quick definition of credit score:

A credit score is a number that shows how good someone is at paying back money they borrow. The higher the number, the better chance they have of getting a loan. The number is based on things like how many loans they have, if they pay them back on time, and how much money they owe. The most common credit score is called the FICO score and is used by most big lenders.

A more thorough explanation:

A credit score is a number that represents how likely a person is to repay a loan on time. The score ranges from 300 to 850, with a higher score indicating a better chance of getting approved for a loan.

The score is calculated based on a person's credit history, which includes:

  • The number of open accounts
  • Repayment history
  • The amount of debt

For example, if someone has a lot of credit card debt and has missed payments in the past, their credit score will be lower. On the other hand, if someone has a history of paying their bills on time and has a low amount of debt, their credit score will be higher.

The most commonly used credit scoring system is the FICO score, which was created by the Fair Isaac Corporation. It is used by 90% of top lenders.

credit reporting agency | credit shelter trust

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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