```json
{
	"yes": ["yes"], 
	"no": ["none"]
}
```

Based on the description, the feature "own_telephone" is a categorical variable with two possible values: "yes" indicating that the person owns a telephone, and "none" indicating that the person does not own a telephone.

By analyzing the relationship between this feature and the target variable "Does this person receive a credit? Yes or no?", we can infer that the presence or absence of a telephone may have an impact on whether the person receives a credit. 

From the available information, individuals who own a telephone are more likely to receive credit ("yes") while those who do not own a telephone are less likely to receive credit ("no"). 

Therefore, the dictionary representing the relationship between the "own_telephone" feature and the target variable is given above. The "yes" list contains the value "yes" indicating individuals who own a telephone, while the "no" list contains the value "none" indicating individuals who do not own a telephone.