Credit Denial

You apply for a mortgage. However, your credit report indicates that you've defaulted on a loan and declared bankruptcy. The potential lender evaluates your application and determines that you are not worthy of credit and default risk.

They reject your application. This is a process known as “credit denial.”

It's not just credit history that determines your creditworthiness. You may have left a few things incomplete or blank on your application, or provided information that could not be confirmed by the lender.

If you’ve skipped payments, defaulted on loans, or have a significant debt load, you are more likely to face the chance of credit denial. So, uh...pay your bills on time.