Declaring Bankruptcy :|: Filing Bankrutpcy & Bankrutpcy Laws
Debt Consolidation | Debt Management | Credit Counseling | Consolidation Questions | Site Map | Contact Us
Fair Credit Reporting Act | Equal Credit Opportunity Act | Fair Debt Collections Practices

The Equal Credit Opportunity Act

The Equal Credit Opportunity Act prohibits credit discrimination on the basis of sex, race, marital status, religion, national origin, age, or receipt of public assistance. Creditors may ask for this information (except religion) in certain situations, but may not use it to discriminate when deciding whether to grant you credit.

The ECOA protects consumers who deal with companies that regularly extend credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. Everyone who participates in the decision to grant credit, including real estate brokers who arrange financing, must follow this law. Businesses applying for credit also are protected by this law.

Your rights under the Equal Credit Opportunity Act

  • You cannot be denied credit based on your race, sex, marital status, religion, age, national origin, or receipt of public assistance.


  • You have the right to have reliable public assistance considered in the same manner as other income.


  • If you are denied credit, you have a legal right to know why.


  • Your Credit Billing and Electronic Fund Transfer Statements


    It is important to check credit billing and electronic fund transfer account statements regularly. These documents may contain mistakes that could damage your credit status or reflect improper charges or transfers. If you find an error or discrepancy, notify the company and contest the error immediately. The Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) establish procedures for resolving mistakes on credit billing and electronic fund transfer account statements that include:

  • Charges or electronic fund transfers that you ? or anyone you have authorized to use your account have not made;


  • Charges or electronic fund transfers that are incorrectly identified or show the wrong amount or date;


  • Computation or similar errors;


  • Failure to reflect payments, credits, or electronic fund transfers properly;


  • Not mailing or delivering credit billing statements to your current address, as long as that address


  • Charges or electronic fund transfers for which you request an explanation or documentation, due to a possible error.




  • Home | Debt Consolidation | Debt Management | Credit Counseling | Consolidation Questions | Contact

    Debt Resources, Debt News & Articles to Learn From

    Additional Debt Resources

    Full Name
    Day Number
    Night Number
    Best time to call
    City
      
    State
    Email
    Total Debt Amount
    Name 1 Creditor Ex.
    (Citibank, Discover)



    Budget Planning
    Creating a Budget & Tips for Consumers
    Credit Issues & Things to Know
    About Credit Cards


    Collections
    Credit and Your Consumer Rights
    Fair Debt Collections Practice Act

    Bankruptcy
    Bankruptcy Laws, Chapter 7, 11, 13
    Answers to Questions about Chapter 7, 11, 13

    Terms To Know
    Important Financial Definitions

    Credit Score & Reports
    Find Out What Your Credit Score Is
    Free Credit Reports
    How to Dispute Credit Report Errors

    www.united-debt-consolidation.com