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Equal Credit Opportunity Act

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Q: What federal law requires creditors to inform applicants of acceptance or rejection of their credit application within 30 days of receiving a completed application?
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Related questions

If you interview a person and do not hire them how long do you have to keep their application?

until you get all of the personal info off of it and give it to creditors and sales clients


Can you add an additional creditor after a bankruptcy proceedings had already been submitted without going to your lawyer again?

(UK - US and other countries may follow different legislation)All creditors need to be listed on your application for bankruptcy. As your lawyer / solicitor is, usually, the person who submits the application, you will need to discuss it with them (Failure to disclose information about creditors can be viewed as fraud).Wasn't logged in.


Examples of creditors ledger and a creditors journal?

creditors journal


How can you improve your credit score after your bankruptcy is completed?

First of all, I would wait a few months and request a free copy of your credit bureau (by mail) to make sure your bankruptcy is no longer on your file. Hopefully all your creditors with negative ratings are all gone. If you have any creditors with good ratings, you should continue using them because the established creditor is good for your bureau. If you do not have any good creditors then you should try to apply for one or two creditors and keep them in good standing for at least 2 years before applying for more, if necessary. Personally I think 2 or 3 creditors are maximum you should have.


Can you sue the estate if someone dies before the contract is complete?

If a contract has not been completed, then the estate can be sued. You, along with other creditors will have the opportunity to present your case and a judge can award you a settlement.


What is creditors circularization?

creditors' circulization


Can creditors account have debit balance?

creditors have debit balances as advances receive from creditors..........


What does a creditors clerk do?

duties of a creditors clerk


Why a business need creditors?

Why a business have creditors


How can we calculate creditors payment period?

Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)


How do you get your creditors list?

You can get a list of your creditors by checking your credit report. Most of all creditors will report to the agencies and will have a record.


How can pass sundry creditors journal entry?

Purchases A/c -Dr 5000 To Sundry Creditors 5000