What Is a Predatory Loan?

Answer

A predatory loan is an unfair and fraudulent loan. Its terms are unfair and very abusive to the borrowers but the lenders often gets away with that crime. The lenders deceptively convince the borrower into this abusive loan terms which ends up hurting the borrowers.
Q&A Related to "What Is a Predatory Loan"
1 Understand the risk. Refund Anticipation Loan is a short-term cash advance against a taxpayer's anticipated income tax refund. It is also a form of predatory lending because of
http://www.ehow.com/how_4715680_lending-avoiding-r...
It is a loan that takes advantage of people in bad need of borrowing money in all ways interest terms of payment late fees etc.
http://answers.yahoo.com/question/index?qid=201110...
What gets referred to as "finance charges" may include not only interest, but various fees to the lender. Of course, it's impossible to say what the charges are for without
http://www.avvo.com/legal-answers/what-is-the-defi...
Read all of the loan contract/ agreement. Make sure you understand what it means. Don't just ask the salesperson what it means- take a copy home and look up the words and phrases
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A predatory lender practices unfair lending during loan origination processes. It is illegal in the United States and is punishable by law. Lenders profit from ...
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A predatory lending is a fraudulent, unfair and a deceptive type of lending during a loan process. In the United States there is no legal definition of a predatory ...
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