When a request for credit is joint (made by two or more individuals who will be primarily liable), the creditor may ask the applicant’s marital status, regardless of whether the credit is to be secured or unsecured, but may use only the terms “married,” “unmarried,” and “separated.” This requirement applies to oral as …

What creditors can consider when evaluating applications?

When evaluating an application for credit, a creditor generally may consider any information obtained. However, a creditor may not consider in its evaluation of creditworthiness any information that it is barred by § 1002.5 from obtaining or from using for any purpose other than to conduct a self-test under § 1002.15.

How long do creditors have to collect?

Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt.

Can a debt collector contact the executor of a deceased person?

If you are not the executor or administrator, you may wish to tell the debt collector who the executor is. If you are the spouse, executor, or administrator, and want a debt collector to stop contacting you about the deceased person’s debts, you have the right to tell them to stop contacting you.

Can a spouse be personally responsible for paying a deceased person?

If you are the spouse, executor, or administrator, and want a debt collector to stop contacting you about the deceased person’s debts, you have the right to tell them to stop contacting you. To exercise this right, you must send a letter to the debt collector stating that you do not want the debt collector to contact you again.

Can a spouse collect on a life insurance policy?

Certain federal laws governing federal life insurance policies can trump conflicting state law documents, including divorce decrees.

What to do if a debt collector does not send you proof?

You can tell the judge the collector did not send you proof of the debt. Collectors are required to tell you who they are, who they are collecting for ( name of the creditor) and the amount of the debt. Threaten to or publish your name as someone who refuses to pay their debt, except to a Credit Reporting Agency