Is it legal for a loan company to ask for my college transcripts?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is it legal for a loan company to ask for my college transcripts?
Asked on July 15, 2015 under Real Estate Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
It is perfectly legal. No lender is forced to make loans--they are not obligated to provide loans, but rather do so voluntarily. Since it is voluntary for them to make loans, they can ask for any information they want before loaning. Conversely, you are not forced to get a loan from them--if you don't like their requirements, you can walk away and go elsewhere for a loan.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.