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Legal actions against other major installment loan providers suggest these methods are typical in the market. A 2010 lawsuit in Texas stated that safety Finance, a loan provider with about 900 locations in the us, induced a borrower to restore her loan 16 times over a three-year duration. The suit had been settled. In 2004, […]
Other advantages that are notable the lack of any prepayment charges Predatory lenders also have a tendency to persuade borrowers to refinance current debts or to place their home up or vehicle as security if it isn’t required. This can be called “equity stripping” and it is merely another method for these bad loan providers […]
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