Creditors Have to Explain Why They Denied You Credit

Preston Law Offices is investigating creditors (including banks, credit card companies, auto lenders, and mortgage servicers) who have denied credit applications without providing an accurate and specific explanation why. Under the Equal Credit Opportunity Act (ECOA), creditors have to provide a statement of the "specific reasons" why they denied a credit application (called "adverse action notices"). Sometimes creditors provide adverse action notices which are vague, unintelligible, and/or contradict themselves, the credit application, or other records (like a credit report). These denials may violate ECOA.

For More Information, Contact Preston Law Offices Today

You may be entitled to compensation if you were denied credit without an adequate explanation why. Preston Law Offices will evaluate whether you are eligible to participate in a class action, explain your options, and work to ensure creditors comply with the law. Since 2009, Preston Law Offices has represented individuals and small businesses in a broad range of class actions, focusing on borrower rights, privacy, and unfair trade practices. Courts have appointed Preston Law Offices as lead class counsel, and Preston Law Offices has obtained recoveries for hundreds of thousands of class members. To learn more, contact us today. We will evaluate your situation to determine whether you have a case.