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I got divorced, and my lender terminated my home equity line of credit. Can they do that?

With respect to open-end accounts (like home equity lines of credit) for which you are responsible, a creditor such as a lender generally may not make you reapply, change the terms of your account, or close your account because you reached a certain age, retired, changed your name, or changed your marital status.

A lender may require you to reapply if your marital status changed, if you originally qualified for the account based on your spouse’s income, and if your income alone may not support the amount of credit currently available on the account. While a reapplication is pending, the lender must allow you full access to the account. The lender may specify a reasonable time period to reapply.

A lender may also close an account on which you and your spouse are jointly liable when one or both of you tell the lender you are no longer willing to be responsible for future charges, request separate accounts, or request that the account be closed. The lender may do so even if this occurs at the same time as a change in your marital status.

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