Credit Denial
You apply for a mortgage. However, your credit report indicates that you've defaulted on a loan and declared bankruptcy. The potential lender evaluates your application and determines that you are not worthy of credit and default risk.
They reject your application. This is a process known as “credit denial.”
It's not just credit history that determines your creditworthiness. You may have left a few things incomplete or blank on your application, or provided information that could not be confirmed by the lender.
If you’ve skipped payments, defaulted on loans, or have a significant debt load, you are more likely to face the chance of credit denial. So, uh...pay your bills on time.
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Finance: What is the Equal Credit Opport...6 Views
Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the
federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]
into debt isn't that sweet of them you know that Uncle Sam well he sure does
have a heart of gold this federal law makes it illegal to discriminate against
people who are applying for financing on pretty much anything legal based on
their age gender marital status religious affiliation ethnic or national
background or public assistance benefits your credit score however well that
still matters sorry just keeping it real
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