Does extending credit have to mean lending money or can it mean other things?

[Hulu]

What is the name of your state? UT

Does extending credit have to mean lending money or can it be other items of value?

For example, if a Landlord allows a tenant to stay in a location without paying in advance. Could this be considered an extension of credit?

Thanks.

 

[zddoodah]

Your question doesn't raise any apparent legal issue.

Depending on whom you ask, "extending credit" can mean lots of things other than lending money.

 

[Zigner]

What is the name of your state? UT

Does extending credit have to mean lending money or can it be other items of value?

For example, if a Landlord allows a tenant to stay in a location without paying in advance. Could this be considered an extension of credit?

Thanks.

Please don't start a new thread for every question that comes in to your mind about your matter.
(Post Hx)

 

[adjusterjack]

if a Landlord allows a tenant to stay in a location without paying in advance. Could this be considered an extension of credit?

It absolutely is an extension of credit.

And a very foolish one at that.

 

[Hulu]

This is an legal issue related to 15 U.S. Code § 1681b

Sorry for trying to keep things simple.

 

[Zigner]

This is an legal issue related to 15 U.S. Code § 1681b

Sorry for trying to keep things simple.

Creating a new thread for questions relating to the same matter actually cause the members to need to hunt down your other posts for (possibly) relevant information. It actually makes things more complicated, generally speaking.

 

[Hulu]

Creating a new thread for questions relating to the same matter actually cause the members to need to hunt down your other posts for (possibly) relevant information. It actually makes things more complicated, generally speaking.

They are 2 different cases.

 

[Zigner]

They are 2 different cases.

Thank you for clarifying. Carry on.

 

[zddoodah]

This is an legal issue related to 15 U.S. Code § 1681b

"Extension of credit" appears in section 1681b(a)(3)(A), which provides that a consumer reporting agency may furnish a consumer report to a person which it has reason to believe intends to "use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer." The term "credit" is defined in section 1681a to have the same meaning as in section 1691a - i.e., "The term 'credit' means the right granted by a creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefor."

I assume that answers your question. Yes?

Sorry for trying to keep things simple.

Simplicity is great, but not at the expense of context.

 

[Hulu]

"Extension of credit" appears in section 1681b(a)(3)(A), which provides that a consumer reporting agency may furnish a consumer report to a person which it has reason to believe intends to "use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer." The term "credit" is defined in section 1681a to have the same meaning as in section 1691a - i.e., "The term 'credit' means the right granted by a creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefor."

I assume that answers your question. Yes?



Simplicity is great, but not at the expense of context.

Yes, that is my question as it relates to this law.

 

[adjusterjack]

Yes, that is my question as it relates to this law.

Now tell us why this is of any importance to you.