Mable is a single, 40-year-old who has borrowed money on numerous occasions. Her payment record has been good, except she has been delinquent in paying a few bills. Which of the following is true regarding credit information gathered on Mable

If Mable is rejected for a loan because of the credit report, the lender must tell her the source of the report

Question

Social Studies

Emiliano Herring

11 March, 21:33

Mable is a single, 40-year-old who has borrowed money on numerous occasions. Her payment record has been good, except she has been delinquent in paying a few bills. Which of the following is true regarding credit information gathered on Mable

If Mable is rejected for a loan because of the credit report, the lender must tell her the source of the report

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Answers (1)

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b. If Mabel is rejected for a loan because of her credit report, the lender must tell her the source of the report.

Explanation:

According to a different source, these are the options that come with this question:

a. Since Mabel has been delinquent, she waives her right to see the credit files.

b. If Mabel is rejected for a loan because of her credit report, the lender must tell her the source of the report.

c. Mabel has a right to have the information regarding her delinquency in paying a few loans stricken from her credit record because her record has generally been good.

d. Mabel's only legal remedy, if there is erroneous information in her credit file, is to report the problem to the FTC for enforcement.

This is the statement that best describes Mabel's situation. Because of the characteristics of Mabel's case, if Mabel is rejected for a loan because of her credit report, the lender must tell her the source of the report. A credit report is a summary of the financial situation of a particular person. Your credit report also includes important information about you, such as your name, aliases, social security number and address.