Our Bad Credit Society
August 16th, 2010 . by admin“Bad credit“is considered to be bad in a society and everything depens on the credit of a person/firm.For instance a person takes a loan from the bank and due to various reasons he doesn’t repay the borrowed amount in time and the banker or the financial institution declares the borrower as a bad creditor or its a bad credit.Now this situation puts the banker in an awkward position and his(banker’s)business of lending funds to the needy becomes difficult This is a case of mismanagement or can be termed as misappropriation of funds.In fact the banker or financial institution extends a loan to the borrower for a specific purpose and the borrower doesn’t utilise the funds for that particular purpose and he misutilise the money and the credit is a bad credit.
