Credit rating is mandatory
In what condition credit rating is mandatory?
Expert
Credit rating is mandatory when the lenders want to share some information about you and it is also been done to keep their interest that the client will one day pay back the loan. In this what occurs is that all the lenders stay in the sync with each other and remain the information of the client with each other so that they can share the information mutually since if a lender gives money to the client then tomorrow if any other client gives the money to the same client then it becomes hard for the client to pay it off the loan that has been taken so they both can collaborate together to avoid this misapprehension.
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