Question

Which of the following statements is true?

A. Banks and other lenders share the credit history of their borrowers with each other and are likely
to know of any other loan payments that you have missed.
O B. People have so many loans it is very unlikely that one bank will know your history with another
bank.
C. If you missed a payment more than 2 years ago, it cannot be considered in a loan decision,
D. Your bad loan payment record with one bank will not be considered if you apply to another bank
for a loan.

Answer 1

The answer to this question is (A) Banks and other lenders share the credit history of their borrowers with each other and are likely to know of any other loan payments that you have missed.