Legal Question in Consumer Law in New Jersey

Re: Applied for loan but rejected for faulty information.

Creit reporting agencies are subject to the Far Credit Reporting Laws and must, when information is disputed by a consumer, take steps to investigate the information and confirm it. That said, failure to abide by the requirements can be a cause action against the credit bureaum, but more importantly, a claim against whoever reported the fraudulent information to the bureau.

If you wish to discuss the matter further, feel free to contact me.

Re: Applied for loan but rejected for faulty information.

I have never seen medical information of any kind on a credit report, but that does not mean it doesn't happen.

If it is there and it is wrong, you must dispute it, in writing, to the reporting agencies, and they MUST verify or correct the information within 30 days.

I wold be interested to see a copy of your report (you can black out anything you want) where it indicated you are an alcoholic if you would fax it to me, so I know for future reference how it is shown on a credit report. (attorneys may be well educated - and to be im-modest, I'm a smart guy, but I can't know everything)

Good luck.

Re: Applied for loan but rejected for faulty information.

I recommend a good, stiff drink to calm your nerves.

Re: Applied for loan but rejected for faulty information.

Title 15 of the United States Code requires that a lender provide you with notice of an adverse action on a credit application together with the name and address of the credit reporting agency from which you may obtain, within 60 days, a free copy of the report on which any adverse action was based. The lender is also obligated to inform you that, if the adverse action is based on information obtained from a third party other than a consumer reporting agency, you are entitled to know the reasons for the adverse action if you make a written request of the lender within 60 days.

It would surprise me to see any kind of medical information on a report from a credit agency. That, in itself, would seem to violate federal privacy statutes quite apart from whether the information was true or not.

If you have been denied credit based on either information which invades your privacy or false information, you may have cause to recover damages against the person reporting that information. There may also be remedies against the lender depending on its compliance with the credit reporting statutes.

You should have been informed of these rights along with notice of the adverse action on your loan application. Your first step is to request this information from the lender and the credit reporting agency. I can help with this if you need it. After we have a look at that, we will be in a better position to proceed.