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#1733180 - 08/21/12 03:16 PM SPECIFIC Reasons for denial
Cale_N_Oats Offline
Platinum Poster
Joined: Aug 2008
Posts: 742
Southern Illinois
We use a program called DealerTrack for our indirect lending. They also produce their own Adverse Action notices. On the notices i have been reviewing i have been seeing a lot of "Garnishment and attachment" as a reason for denial with no evidence of it on their credit report. So, i contacted them and they said that "Garnishment and attachment" includes collections, judgements and liens. I said "that's not specific enough" and they said that it "complies with the regulations"....but it doesn't, right? Doesn't the Reg and commentary state it has to be SPECIFIC and isn't listing collections on your credit report as "Garnishment and attachment" un-specific?
Serenity Now!!!

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#1733194 - 08/21/12 03:21 PM Re: SPECIFIC Reasons for denial Cale_N_Oats
KPOC Offline
Gold Star
Joined: Jul 2012
Posts: 460
Greater Boston Area
It sounds reasonable to me. We would check the box "Delinquent past or present credit obligations with others", then in the comments section put garnishment, tax lien, etc.

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