How do I get out of a predatory lending contract?
KZ asked:
what they are charging is not what they appraised.
banking authority is unable to help.
i might be able to call the state banking authority. it’s my mom actually. I am trying to help her. any other suggestions?
she signed the cotnract and then 6 months ago they bumped up the charges contrary to the contract.
what they are charging is not what they appraised.
banking authority is unable to help.
i might be able to call the state banking authority. it’s my mom actually. I am trying to help her. any other suggestions?
she signed the cotnract and then 6 months ago they bumped up the charges contrary to the contract.
If your mom did not sign the contract, then that is it. If so, then does your state have a 72 hour time for rescission, or cooling off period? We have that in California.
Aside from that contact an attorney. If she cannot afford one, go to the legal aid society in your state.
Just goggle legal aid, and your state.
the best guy i have seen with common sense advice on pred. lenders is dave ramsey. get on look for times when he is broadcasting in your area. get on the phone with him and he will geve u the best advice.
Try contacting your State Attorney’s Office. See if there’s anything they can do to help.
The link below is for a pdf about Payday Loans from the Consumer Federation of America. It may have something in it to help.