credit rating
credit rating
Credit reporting agencies collect information about consumers' financial affairs and sell this information to their clients. Credit ratings are set by creditors who pass this information to the reporting agencies. It consists of a nine-point rating scale, for example: R1 indicating that payment was made on time; R2 that payment was made 30 days late, but not more than 60 days; and R9 indicating a bad debt or one that has been placed for collection and it also applies to bankruptcy. (Dictionary of Canadian Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

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