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One who is trustworthy and entitled to be believed; in law and legal proceedings one who is entitled to have his oath or affidavit accepted as reliable not only on account of his good reputation for veracity but also on account of his intelligence knowledge of the circumstances and disinterested relation to the matter in question. … [Read more...] about CREDIBLE PERSON

A credible witness is one who is competent to give evidence, and is worthy of belief. 5 Mass. 219 17 Pick. 134; 2 Curt. Ecc. R. 336. In deciding upon the credibility of a witness, it is always pertinent to consider whether he is capable of knowing the thing thoroughly about which he testifies. 2. Whether he was actually present at the transaction. 3. Whether he paid, sufficient … [Read more...] about CREDIBLE WITNESS

common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits 2. The time extended for the payment of goods sold, is also … [Read more...] about CREDIT

There are three major credit bureaus, Equifax, Experian and Trans Union, regulated by the federal Fair Credit Reporting Act, that collect and sell information about the credit history of people and entities. The credit reports are used by banks and credit card companies (and others in the practice of lending) to screen applications for reliability and ability to pay debts. … [Read more...] about CREDIT BUREAU

The ability to pay outstanding debts outside of a bankruptcy proceeding and where an counselor assists the debtor with credit and financial management. Bankruptcy laws now require a debtor to undergo credit counseling with an approved counselor prior to filing for bankruptcy. … [Read more...] about CREDIT COUNSELING