Springleaf Loan - Bait and Switch

[Anonymous]

I got approved online for $7500  and got the email saying I was approved.  After I called them to see what the terms of the loan- Justin and Amanda asked me about 20 probing questions about my monthly expenditures, personal habits, equity on my cars,  and then said I was NOT APPROVED BY UNDERWRITING.     So BEWARE, being "approved" online may not be true!!!

[taxi818]

Ok. i understand your frustration. but that is far from bait and switch. you just got declined after further review. i guess they did not like the answers to the questions they asked you.

[RobertEG]

Also be aware that, under the FCRA, if you apply for and are denied credit, you are then entitled to send a copy within 60 days of their denial letter to each CRA for which they pulled your credit and obtain a free copy of your credit report from that CRA.

By obtaining a denail orally, you have no denial letter to send to the CRA, and thus loose your right to see the copy of the CR that they used in their denial.

If you want the free CR, then you must request a written denail letter.

[taxi818]

Well you don't actually have to send a letter to the cra to get a copy. You can do it online my simply saying denial of credit. They will ask you who was the lender and see the hp on the report which will allow you to view the report. But the lender must have pulled your report from that cra. As a matter of fact. It does not actually have to be a denial. But any adverse action. Like not getting what you asked in credit limit increase. An they will give you free copy. As long as you identify lender.

[Strogen]

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@RobertEG wrote:

If you want the free CR, then you must request a written denail letter.

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Lol, no.... this can all be done online.