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#2231975 - 02/27/20 09:38 PM Adverse Action - Which Reason is Correct?
Saintsfan Offline
Member
Joined: Apr 2014
Posts: 92
Hypothetical - The denied applicant has no tradelines and no credit score but there is a collection company reporting what's left on a debt purchased from the original creditor.

Which reason should be included in reasons for denial, "Limited Credit" or "No Credit File"?

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#2231983 - 02/27/20 09:56 PM Re: Adverse Action - Which Reason is Correct? Saintsfan
Adam Witmer Offline
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Joined: Sep 2010
Posts: 2,622
I wouldn't use "No Credit File" as the credit file you have is telling you there is a collection.
_________________________
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
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#2231986 - 02/27/20 10:01 PM Re: Adverse Action - Which Reason is Correct? Saintsfan
Saintsfan Offline
Member
Joined: Apr 2014
Posts: 92
Thanks. That's what I thought too. I only asked because of a different interpretation shared with me.

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