What legal steps can I take if my bank rejects my credit request without explanation?
February 19, 2024 | 40,00 EUR | answered by Alwin Reuter
Dear lawyer,
My name is Bernd König and I am contacting you with an urgent matter. Recently, I applied for a loan at my bank as I am in urgent need of financial support. Unfortunately, my request was rejected without any explanation. I am very concerned about this inexplicable decision and wonder what legal steps I can take in this situation.
To clarify my situation, I would like to provide some background information. I have been a customer at this bank for many years and have always met my financial obligations on time. My creditworthiness is impeccable, and therefore I do not understand why my loan request was rejected. This rejection has put me in a precarious financial situation as I am in urgent need of the approved financing.
My concern now is that without the urgently needed financial support, I will encounter serious difficulties. Therefore, I ask for your urgent advice on what legal steps I can take against the bank. Is it possible to contest the rejection or claim for damages? What options do I have to enforce my right to a fair assessment of my loan request?
I thank you in advance for your support and am ready to provide further information or documents to clarify my situation. Please help me find the best possible solution to my problem.
Sincerely,
Bernd König.
Dear Mr. King,
Thank you for your trust and reaching out in this difficult situation. It is understandable that you are concerned about the unexplained rejection of your credit application and the resulting financial problems. I will try to explain to you in as much detail as possible what legal steps you can take in this situation.
First of all, it is important to know that banks have a certain amount of discretion when deciding on credit applications. They are not obligated to grant a loan to every customer, even if their creditworthiness is flawless. However, banks must adhere to certain legal requirements when rejecting a credit application.
It is advisable to first inquire in writing with the bank about the reasons for the rejection of your credit application. The bank is obligated to provide you with a plausible explanation. If you are not satisfied with the bank's response or have doubts about the legality of the rejection, you can consult a lawyer.
An experienced lawyer in the field of banking law can assess whether the bank has violated legal regulations or internal guidelines in rejecting your credit application. There may be a violation of the prohibition of discrimination or other legal provisions. In this case, legal action can be taken against the bank.
It is also possible to claim damages if you have suffered financial harm due to the unjustified rejection of the credit application. However, it is important to note that proof of specific damages is required.
In any case, it is advisable to seek advice from a specialized lawyer to properly represent your rights and find the best possible solution to your problem. I am available for a personal consultation and to support you in asserting your claims against the bank.
I hope this information is helpful to you and I am available for any further questions.
Sincerely,
Alwin Reuter, Lawyer specializing in banking law
