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Generally speaking, at what point will a lender issue a Credit Guide to a customer?

a) Before the loan application
b) After loan approval
c) During the loan repayment
d) After the loan term ends

User Niurka
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Final answer:

A Credit Guide is issued to a customer by the lender a) before the loan application process is completed, detailing the terms and the bank's assessment procedures.

Step-by-step explanation:

A lender will generally issue a Credit Guide to a customer before the loan application is finalized. This document provides important information about the terms, conditions, and costs associated with the loan. It's a critical piece of communication that helps ensure transparency and understanding of the financial commitment the borrower is considering. The guide typically includes the bank's assessment procedures, like conducting a credit check, evaluating income sources, considering the need for a cosigner, or requiring collateral.

User Roguequery
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