Bad credit lenders or mainstream lenders - there's no difference in the eyes of the law. The Federal Trade Commission (FTC) defines a range of rights that all consumers are entitled to for all credit transactions. These not only include rights under the Fair Credit Reporting Act (FCRA), but also rights under the Equal Credit Application Act (ECOA). The latter protects you whenever you deal with any company that's extending credit, including banks, retail stores, credit card companies and, yes, bad credit lenders .

You can take a look at the full acts on the FTC site at http://www.ftc.gov/bcp/conline/pubs/credit/crdright.htm Meanwhile, let's highlight some examples. Supposing, for example, you apply for a bad credit loan and the bad credit lender rejects your application. If this happens, the Fair Credit Reporting Act gives you the following rights:

•  Under the FCRA, if the bad credit lender rejected your application based on information they received from a consumer reporting agency (credit bureau), they must supply the name and address of that agency.

•  You then have the right to a free copy of that report, providing you request it within 60 days of your rejection by the bad credit lender .

As we mentioned, you're also protected under the Equal Credit Opportunity Act (ECOA) when a bad credit lender evaluates your application. The act specifically states that creditors, which includes bad credit lenders , may not discriminate against you on the basis of sex, race, marital status, religion, national origin or age, or because you are receiving public assistance.

Your rights with bad credit lenders

•  Bad credit lenders cannot deny you credit based on your race, sex, marital status, religion, age, national origin, or receipt of public assistance.

•  Bad credit lenders have to consider reliable public assistance the same as other income.

•  If you are denied credit by a bad credit lender , you have the legal right to know why.

Reputable bad credit lenders will go out of their way to make sure you're given your full rights at all times. Visit Neighborhood Loan bad credit lenders at Neighborhood Loanfor example, and you'll find an article on how to correct mistakes in your credit report. For more information on how bad credit lenders can help repair your credit, check our article Using bad credit loans to repair your credit.

Spend a few minutes and read our reviews, it should help. Bad credit mortgage lenders such as Neighborhood Loan and Home123.com offer a variety of options and offer great customer service. All of the companies listed on this site look at much more than just your credit score when determining approval for bad credit mortgages.

Take a few minutes to read through our reviews and helpful articles, they could save you alot of time and frustration, and help you to be better prepared.