| Under the Equal Credit Opportunity Act, an applicant who applies for credit has the right to:
(1) take out the credit in the applicant's birth name, the applicant's first name and his or her spouse's last name, or the applicant's first name and a combination of the last names of the applicant and his or her spouse;
(2) obtain the credit without a cosigner, if the applicant qualifies for the credit;
(3) obtain the credit with a cosigner who is not the applicant's spouse, if a cosigner is necessary;
(4) keep his or her own accounts after a change of name, marital status, age, or retirement, unless the creditor has evidence that the applicant is not willing or able to pay the debt;
(5) be informed of the acceptance or rejection of the application within 30 days of the filing of the complete application;
(6) be informed of the reason for the rejection of the application, upon request, within 60 days;
(7) be informed of why less favorable terms were offered than were sought, unless the applicant accepts the terms; and
(8) be informed of why an account was closed or the terms of the account were made less favorable, unless the account is inactive or delinquent. Copyright 2010 LexisNexis, a division of Reed Elsevier Inc. |