Predatory lending has driven many people into dire financial straits. There was a time when borrowing money was cut-and-dry, and when a person signed up for a loan he or she knew exactly what to expect. Now lending money is big business and unfortunately, there are lenders that have gone to extremes to take advantage of consumers trying to build a better life.
Not all lenders are predatory. There are many banks and lending institutions that make responsible decisions and only offer loans to people who are fully qualified. There are also those that see an opportunity to prey on people who dream of owning a new home, buying a new car, or giving their children a better life – it is these lending institutions that lead consumers down a path of financial ruin. They are predatory lenders.
Tips for Avoiding Predatory Lending
There are several things you can do to avoid becoming a victim of predatory lending. For instance:
Are You a Victim of Predatory Lending?
If you are a victim of predatory lending, you still have options. Many of the actions taken by predatory lenders are illegal. It’s possible for you to recover from your circumstances and to move forward with your life, even if you were targeted by a predatory lender, but most people need professional guidance to help them clean up the mess.
Do you have questions about predatory lending? Have you agreed to a loan or are you in the midst of financial struggles because you were made a victim by a predatory lender? You need to work with a bankruptcy lawyer who can help you repair your financial life. Contact R. Flay Cabiness, II, P.C. at (912) 554-3774 (Bankruptcy Brunswick, GA); (912) 375-5620 (Bankruptcy Hazlehurst, GA) or; (912)-554-3756 (Bankruptcy Jesup, GA) to schedule a consultation or to discuss the details of your situation.
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