Q: Does The substation 1611 mean that I can get a personal loan in the bank nor any other loan company can't deny me
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- California
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- Answered
A:
Under California law, Section 1611 of the Civil Code does not guarantee approval for a personal loan from a bank or any other loan company. Loan approvals depend on several factors, including your creditworthiness, income, debt-to-income ratio, and the lending institution’s policies. Even with legal protections in place, lenders still have discretion to deny loan applications based on their criteria.
If you believe that your loan application was denied due to discrimination or unfair practices, you may have legal rights under other laws, such as the Equal Credit Opportunity Act. This law prohibits discrimination based on race, color, religion, national origin, sex, marital status, age, or the receipt of public assistance. You can take action if you suspect these rights were violated during your loan application process.
It’s important to review your financial situation and understand why your application might have been denied. You can request an explanation from the lender, which may help you address any issues before reapplying.
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