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Why do you think people use credit? Does everyone out there get equal opportunities in terms of housing loans on my education loans, renting an apartment, or employment? No, it's their creditworthiness that gets them these opportunities. The federal trade commission forbids discrimination on the basis of nationality, marital status, age, religion, race, color, sex, etc. Since creditors ask about these personal factors, they cannot rank anyone on this basis. So what can we conclude?The conclusion is that your credit score, whether good or bad, is used everywhere. However, there are some factors that creditors don't evaluate while lending money. That doesn't make it lenient for any borrower, but he can certainly be relieved from some responsibilities. What factors are not considered by the creditors?So, let's take a look at what are the creditors totally ignore, partially consider, and fully consider while lending money. Many people, including employers, insurers, landlords, etc. consider your creditworthiness. Here we will just talk from the point of view of a creditor.
If you suspect any discrimination, you can do the followingIt's about sticking to the rules and regulations set by the government. So, any mismatch in the practices of the creditors can call for in the following actions from your side.
With the laws becoming strict in the recent past, you can exercise your rights seamlessly. These days the creditors also act in good faith, so the cases mentioned above occur very rarely. However, you need to be aware of all these steps.
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