You Have the Right to Know Why You Were Denied Credit If you have been denied access to credit, or offered less favorable terms, it is very important that you promptly request a written explanation of why you were denied credit, or offered a higher interest rate than you deserve. You have the right to receive this information under the Equal Credit Opportunity Act. You must request this information from the creditor within 60 days. As soon as you are denied credit, write a letter to the creditor asking for a written explanation of why you were denied credit or offered less favorable credit terms. Send the letter by certified mail, return receipt requested. Be sure to keep copies of all correspondence to and from the creditors, as well as the certified receipt of delivery to the creditor.
If you are denied employment or insurance based on information contained in your credit report, it is advisable to send a similiar letter to the employer or insurance company, asking for additional details, as well as a copy of the consumer report upon which they relied in making their decision. If you have additional questions, contact the WELLS LAW OFFICE today for a free consultation regarding your legal rights. ~Dedicated to Protecting Ohio Consumers~
Consumer Protection Laws * Fair Debt Collections * Fair Credit Reporting |
