Ensure you were denied credit for a valid reason: Letter Challenging a Credit Denial
Other Names:
Credit Denial Challenge Letter
What is a Letter Challenging a Credit Denial?
A Letter Challenging a Credit Denial can help you find out exactly why your credit application wasn't approved and appeal that decision. There are many reasons why a creditor may deny a credit application, but if you were denied you may want to ensure that the reason given to you was correct and valid. The denial may be in error or sometimes there's simply a mistake on your application. A Letter Challenging a Credit Denial can help you straighten out any issues.
It's your right to know why you were denied. Regardless of what's happened it can pay off to double check the reasons, after all, creditors make mistakes. Sometimes there's an issue with your credit report that can easily be fixed. Getting turned down for credit or a loan can be frustrating but the problem might be a simple fix or the creditor might change their mind. Whatever may happen you have to challenge the decision first. Sending a Letter Challenging a Credit Denial is often the first step to figuring out exactly what went wrong and fixing it.
It's your right to know why you were denied. Regardless of what's happened it can pay off to double check the reasons, after all, creditors make mistakes. Sometimes there's an issue with your credit report that can easily be fixed. Getting turned down for credit or a loan can be frustrating but the problem might be a simple fix or the creditor might change their mind. Whatever may happen you have to challenge the decision first. Sending a Letter Challenging a Credit Denial is often the first step to figuring out exactly what went wrong and fixing it.
When to use a Letter Challenging a Credit Denial:
- You've been denied credit or a loan.
- You want to find out why you were denied.
- Your creditor terminated or unfavorably changed your account.
Sample Letter Challenging a Credit Denial
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I applied for credit with you on , for . I was notified on , that my application had been denied. applied for credit with you on , for . was notified on , that its application had been denied.We applied for credit with you on , for . We were notified on , that our application had been denied.I was notified on , of the termination of .We were notified on , of the termination of .I was notified on , of a change in the credit terms on my account. We were notified on , of a change in the credit terms on our account.
Please advise if the adverse action was based in whole or in part on information contained in a consumer credit report or on information obtained from a source other than a consumer reporting agency. If the adverse action was based on information from a source other than a consumer reporting agency, please indicate the nature of the adverse information, such as credit worthiness, credit standing, credit capacity, character, general reputation, or personal characteristics.
Your review of this matter is greatly appreciated. Please respond as soon as possible regarding the results of your review.
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Sincerely,
