Rights if Denied Credit

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Most Common Finance Law Issues:

Why Was I Denied Credit?

While there are regulations that protect you when seeking credit, there is no law that guarantees credit approval. Some reasons why your application may be denied include:

What Factors Are Illegal For A Creditor To Consider?

Although a creditor may consider various elements when reviewing your credit, it is forbidden to request or to review personal information pertaining to sex, martial status, race, national origin, child support, or public assistance income.

What Can I Do If I Have Been Denied Credit?

The Equal Credit Opportunity Act ensures that all consumers have an equal chance to obtain credit and requires that a creditor explain its reasoning when declining your credit application. Specifically, the Act requires that the creditor:

Should I Contact My Creditor?

Discussing the outcome of your application with your creditor can be extremely beneficial. The creditor may be able to offer information regarding:

Do I Need A Lawyer?

If you feel that you have been unjustly denied credit or if you would like to discuss your current financial status, an attorney can explain your state's credit laws and how they pertain to you.

Consult a Lawyer - Present Your Case Now!
Last Modified: 06-04-2014 03:13 PM PDT

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