```json
{
	"yes": ["yes"],  
	"no": ["none"]
}
```
Based on the feature description and task, it appears that the feature "own_telephone" indicates whether or not the person owns a telephone. The values for this feature are categorical, with two possible categories: 'yes' if the person owns a telephone, and 'none' if the person does not own a telephone.

In this case, it can be inferred that individuals who own a telephone are more likely to receive credit, hence the 'yes' target class. On the other hand, individuals who do not own a telephone are less likely to receive credit, leading to the 'no' target class.

Therefore, the dictionary representation for the relationship between the feature "own_telephone" and the target variable "Does this person receive a credit?" is as shown above.