Susie Smith-Jones is getting a loan. The loan papers have her name as Susie Smith. She wants to sign with her married name, Susie Smith-Jones. The lender says she can't do that unless they pull her husband's credit and have him co-sign on the loan. Is this correct??
Thanks.

ummmmm...No. You will have Equal Credit Opportunity Act problems with this.

202.7(b)Designation of name. A creditor shall not refuse to allow an applicant to open or maintain an account in a birth-given first name and a surname that is the applicant’s birth-given surname, the spouse’s surname, or a combined surname.

202.7(d) Signature of spouse or other person—(1) Rule for qualified applicant. Except as provided in this paragraph, a creditor shall not require the signature of an applicant’s spouse or other person, other than a joint applicant, on any credit instrument if the applicant qualifies under the creditor’s standards of creditworthiness for the amount and terms of the credit requested.

What type of loan is it? Also where you are located may help. Maybe the hubby needs to sign just the collateral document? As a general rule you can't make both sign JUST because they are married. In addition if her LEGAL name is Smith-Jones you should be using that name. Especially if the collateral is in that name. Please give more detail and I will try to help more.

It's a personal loan and the husband's name is not on the collateral. Her legal name is Smith-Jones. (This loan isn't through our bank, by the way!) Thanks for your help.

Sounds to me like he just doesn't want to redo the paper work, so he is trying to convince her that it would be easier to leave it the way it is or her husband will have to get involved.

Sounds like a case of laziness.

I have to agree with Stephanie on this one. Redo the paperwork and leave hubby off.