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What is “Predatory Lending Practices?

April 26, 2017lending practices Predatory

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What is “Predatory Lending Practices?

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There are many different behaviors that could be labeled predatory lending practices. Basically, however – it is an attempt from the lender or institution to force an individual into taking a loan he or she did not need, getting the individual to agree to terms that are not fair or that are not legal, not disclosing full terms and rules regarding a loan – and more. Since predatory lending is illegal, individuals are entitled to compensation and often achieve that compensation in a court of law.