YOUR CONSUMER RIGHTS WHEN WORKING WITH A CREDITOR

Written By Lifeline

The equal credit opportunity act has placed many restrictions and regulated the process of obtaining credit. It clearly outlines things creditors are not allowed to do, and things they are allowed to do. It is important to know your rights, so read about them here!

What a creditor may NOT do:

  • Discourage you from applying because of your sex, marital ststus, age, ethnicitiy, or disabiity

  • May not ASK you about any of the traits above. (You could volunteer to give the information if it is a real estate loan)

  • May not asked if you are widowed or divorced 

  • Cannot ask your marital status if you are applying for a separate unsecured account 

  • May not ask for information about about your husband or wife

  • Ask about your plans for children, or if you have children

  • Cannot ask if you are relying on your partners income


When a creditor CAN ask you about your spouse:

  • If they are applying with you

  • Your spouse will be on the account

  • You are relying on your partners income

  • You reside in a community property state



Information pulled from: 

Notley, S. Credit solutions: Proven strategies to establish and re-establish your credit. The Manning Group

If you ever have questions, contact us - your expert consultants. 

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Solutions Team

Lifeline http://www.lifeline.credit
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