[Sandy]

Do you mark the “Disclosure of Use of Information Obtained from an Outside Source” box when completing an adverse action notice for an application with a credit report but the reasons were not due to what was on the credit report? I have an adverse action that was denied due to Negative Net Worth, Unable to Verify Income, and Income Insufficient for Amount Requested. If you typically don’t would in this case the Income Insufficient for Amount Requested trigger that box to be checked because you are factoring in the debts showed on the credit report? (The debts are listed on the credit application though.)

[Brent V]

You check the “Disclosure of Use of Information Obtained from an Outside Source” box when you obtain a credit report and the information in the report impacted the decision to deny the credit. Based on the information in your question, it appears that the box need not be checked.

[Author]

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