Essay On Credit Discrimination

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As a United States citizen and consumer, you have certain rights protected by law. Among the most important laws are those that protect you from any type of credit discrimination. If you feel you have been discriminated against in any way while applying for any type of credit, it is important for you to seek legal advice in protection of your rights. By doing this, you are helping to make sure lenders are abiding by the law and treating everyone equally.

What is Credit Discrimination?
Credit discrimination is the act of denying qualified applicants from receiving a loan or credit due to factors such as race, religion, sex, sexual orientation, national origin, marital status or age. The laws governing these types of discrimination were established in 1974 with the passing of the Federal …show more content…

closing an active credit account without cause or proper notification.

How Can You Protect Yourself From Credit Discrimination?
As a consumer, it is incumbent on you to understand your rights. These laws were passed for your protection and without your diligence in forcing lenders to abide by these laws, you are giving them license to discriminate against anyone for any reason. In order to make sure you do not become a victim of credit discrimination, here are some steps you can take to protect yourself.

1. Awareness of Your Credit Situation - The best way to combat credit discrimination is by making yourself aware of your credit standing and how that would normally be treated by lenders. This includes being aware of your credit score and any other types of credit information that might be pertinent to your credit application. If your credit score is strong and your payment history pretty clean, there are very few viable reasons why you would be denied credit from a reputable lender. If you are denied credit and the lender is inconsistent in its reasoning, you may be a victim of some type of

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