Legal Question in Credit and Debt Law in Tennessee

personal loan/incorrect credit reports

My father is 75 years old and inherited a home and would like to buy the home he is in. He has been disabled 30 years and never used credit however a garbled bunch of mess continues to appear on his report. He has a home to use as collateral and is being offered another home by realatives at below market value(considerably).

He has been refused a loan by Sunshine morgage here and I believe his age, disability and false credit report are factors. Any suggestions on what can be done and shouldn't he qualify for a personal loan with the other home as collateral. I have written letters to all the people on his credit report and denied all of them and he has signed all of them but they refuse to take the false information off and the credit agency is of no assistance.Thank you


Asked on 3/22/99, 2:53 am

1 Answer from Attorneys
Susan Freiman The Legal Clinic

Re: personal loan/incorrect credit reports

You are correct. There is federal law which protects people who have been injured by false credit reports. It is possible to collect damages. State law may also give similar rights.

I strongly suggest you seek a lawyer to help you with this. Sometimes these credit reporting services take lawyuers' letters more seriously than letters from the public. In anye vent, you need to know exactly what your rights are, and what you can do to enforce them.

If you cannot afford a lawyer. try your local Legal Aid Society. Most bar associations also have panels of attorneys willing to work for a reduced fee.

Regarding your father's age, it may be possible to have someone younger guarantee the mortgage. Does he have life insurance which can be used as collateral?

Susan Freiman

The Legal Clinic

P.O. Box 9407, Herzlia Street 29


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Answered on 4/07/99, 2:20 am


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