STATE OF MAINE
BUREAU OF CONSUMER CREDIT PROTECTION
SAMPLE DENIAL NOTICE

(Insert the name, address, & telephone number of your business here)

STATEMENT OF CREDIT DENIAL, TERMINATION, OR CHANGE

TO:	(Consumer’s name)							Date:	(Today’s date)
	(Consumer’s address)

DESCRIPTION OF REQUESTED CREDIT:	______________________________________________

	WE REGRET THAT WE ARE UNABLE TO GRANT YOU THE CREDIT WHICH YOU REQUESTED AT THIS TIME.  OUR DECISION WAS BASED ON THE REASON(S) INDICATED BELOW:

____	Credit application incomplete				____     	Inadequate collateral
____	Insufficient credit references				____	Too short a period of residence
____	Unable to verify credit references				____	Temporary residence
____	Temporary or irregular employment				____	Length of employment
____	Insufficient income					____	Excessive obligations
____	Unable to verify income					____	Unable to verify residence
____	No credit file						____	Insufficient credit file
____	Delinquent credit obligations				____	Bankruptcy
____	Garnishment, attachment, foreclosure, repossession, or suit
____	We do not grant credit to any applicant on the terms or conditions you request
____	Other (Specify)

DISCLOSURE OF USE OF INFORMATION OBTAINED FROM AN OUTSIDE SOURCE
____ 	Disclosure inapplicable, or
____    	Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency or agencies listed below.  You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency.  The reporting agency played no part in our decision and is unable to supply specific reasons why we denied credit to you.  

		(Agency name(s), address(es), & telephone number(s))

	You have the right under the Fair Credit Reporting Act of 1997 to dispute the accuracy and completeness of the information in your credit file.  You also have the right to obtain a free credit report, within sixty (60) days of receiving this notice, from any credit reporting agency listed above.

____	Our credit decision was based in whole or in part on information obtained from an outside source other than a consumer-reporting agency.  Under the Fair Credit Reporting Act, you have the right to make a written request, no later than 60 days 	after you receive this notice, for disclosure of the nature of this information.

									Very truly yours, 

                                                             NOTICE
	The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the ability to enter into a binding contract), because all or part of the applicant’s income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Protection Act.  The Federal agency which administers compliance with this law is the Federal Trade Commission, Equal Credit Opportunity, Washington, D.C. 20580

Rev 11/24/97
Standard Creditor Denial