Credit Denial

Posted in Finance, Accounting and Economics Terms, Total Reads: 529
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Definition: Credit Denial

Credit denial is the refusal to a loan application by a prospective lender.


Credit denial is usually result of the perceived inability of the borrower to pay back the loan or credit. This might be due to a maligned credit history of the borrower or a previous default on credit.


One of the possible cause is insufficient information to the prospective lender due to which the lender may not be able to recognize the ability of the borrower to pay back the loan.

 

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