Credit scores are used in a lot of different situations such as loans for buying houses, applying for credit cards, applying for an increase in credit limit, and work-related circumstances. A good credit score is a guarantee that you will pass and be able to enjoy the perks of loans and also securing a job that you can turn into a career in the long run. However, not everyone is fortunate enough to be granted such opportunities. During these times, the applicant or candidate has the right to know about this rejection and this can be done through an adverse action notice.

Credit scores are used in a lot of different situations such as loans for buying houses, applying for credit cards, applying for an increase in credit limit, and work-related circumstances. A good credit score is a guarantee that you will pass and be able to enjoy the perks of loans and also securing a job that you can turn into a career in the long run. However, not everyone is fortunate enough to be granted such opportunities. During these times, the applicant or candidate has the right to know about this rejection and this can be done through an adverse action notice.

Now, you might ask what an adverse action notice is. You need not worry as we will give you a better perspective about this kind of notice and what it is used for. To make things even more convenient for you, we have collected some adverse action notice form examples that you can definitely use as a reference when you start making your own. Continue reading this article to find out more about these notices. Not only that, we will also let you know how you can download all of the samples that we have in this article. Cool, right? So read up now!

Sample Notice of Adverse Action

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  • PDF

Size: 34 KB

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Employer Adverse Action Notice

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  • PDF

Size: 12 KB

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Sample Adverse Action Notice Letter

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  • PDF

Size: 4 KB

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Basic Adverse Action Notice Sample

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  • PDF

Size: 12 KB

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Free Adverse Action Notice

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  • PDF

Size: 52 KB

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Adverse Action Notice Form in PDF

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  • PDF

Size: 13 KB

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What Is an Adverse Action Notice?

An adverse action notice is a common document used by banks and insurance companies. This official document lets the recipient know that he/she has been denied credit. These notices are also used in settings involving employment, insurance, and other situations wherein there is a credit report about the credit standing of the recipient. These letters are usually sent out a week or two after an application that is considered to be credit based. These notices can either be sent via mail, can be relayed orally, or it can also be sent electronically to the recipient. Lenders or the credit bureau who conducted the investigation of your credit score will give you a definitive reason as to why you have a bad credit score.

Adverse Action Notice Content

  • The name of the credit bureau that conducted the credit score investigation, their contact details (email and business numbers), as well as their business address.
  • Your credit score and other factors that contributed to the decision, if any.
  • An instructional guide about how you can get a free copy of your credit report. Typically, the recipient has 60 days to claim the free copy.
  • It should also state that the bureau is not involved in making the decision of the applicant’s rejection. They just simply report the results of the investigation.
  • It will also include that the recipient has the right to dispute any discrepancies or inaccuracies that they might find regarding the report.

 

If you find that the applicant’s credit score has nothing to do with the decision, you still need to give an adverse action notice to them. This free notice form will still state the reasons why the applicant was denied the application. However, this type of adverse action notice will not disclose the name of the credit bureau nor will it give the applicant a chance to see the credit results.

Sample Final Adverse Action Notice Letter

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  • DOC

Size: 8 KB

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Notice of Adverse Action Sample in DOC

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  • DOC

Size: 3 KB

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Sample of Pre-Adverse Action Notice

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  • DOC

Size: 6 KB

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Sample Employment Adverse Action Notice Letter

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  • DOC

Size: 7 KB

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Post-Adverse Action Notice Sample

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  • DOC

Size: 7 KB

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Downloadable Adverse Action Notice in DOC

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  • DOC

Size: 7 KB

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Taking Control of the Credit Situation

This section is dedicated to those who are going through applications that make use of credit scores. It is best that you take control of the situation first before you apply. This ensures that you will be able to make definitive actions that is in line with making your credit scores a whole lot better. So what do you need to do?

  • Secure a copy of your credit report first.
  • Review the copy you have secured. Check out if there are any discrepancies, if there are information that are outdated, or if there is a transaction that suggests there has been identity theft. Take note of these.
  • Review your savings, emergency funds, and other budgeting practices you have. Check how you secure your funds and how you pay for any of the debts you have. Do you borrow cash on a regular basis? These are also some of the things that you have to take note of.
  • List down your short-term and long-term goals. You will see that a lot of the stages you will go through will need credit. So better check if your credit score will be able to bring you closer to the goals that you have.
  • Get in touch with a lawyer or a legal aid for finance. They will be able to help you resolve any problem that you might face with regards to your credit.

 

Receiving an adverse action notice can be a bummer. Nobody wants to be told that they failed an application because their credit scores are not that good. It surely is not a great read. However, you have to make sure that you supply all the information that is needed by the recipient.

The sample notice forms are easy to download. As you can see, the download button is beside the samples we have. By simply clicking on that button, you will be asked to fill out a simple captcha. After you input the correct captcha, you will notice that the download button will turn red. By clicking on it once more, you will now be asked to save it to your device. It’s that easy! Plus, you need not pay a single cent! So download as many as you want!

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