Location: Wisconsin
Hello, I am seeking legal advice about a personal loan I took out yesterday for $1,000. My bank listed two credit cards that I mainly use and used that to determine my debt to income ratio, however after signing the paperwork and receiving the money in my checking account, I later forgot/discovered a newer credit card I got a few months ago but the debt on that wasnt being reported to my bank account due to them only reporting it through one credit bureau. My question is, it it illegal to get approved for a personal loan if my bank only lists the debt of the two credit cards and not the third card due to them only using Equifax. The loan money is still in my account and hasnt been used at all.
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>My question is, it it illegal to get approved for a personal loan if my bank only lists the debt of the two credit cards and not the third card due to them only using Equifax.
No. If you had actively concealed something detrimental yourself it could be illegal but this wouldn’t be.