You could be forgiven for thinking that predatory lenders really only go after poverty-stricken borrowers. However, a recent study by the San Diego Business Journal found that 73% of predatory loans were made to middle and upper-class borrowers.
predatory lending
What To Look For In A Credit Counseling Service
By 2.24.07
Credit counseling is not for everyone, but may be for you if you are struggling with debt. Credit counselors work by negotiating a reduced payment plan with creditors. In exchange for receiving timely payments, creditors may return a small portion of the amount received to the counseling service. Only consider a counselor if you can reign in your spending and pay off your debt in less than five years.
Avoiding Payday Loans
By 2.13.07
CreditPro is a new blog written by a non-profit credit counselor, and he has some harsh words about Payday loans and why they are never a good idea:Another common problem that I encounter on a daily basis has to do with payday loans.
Watch Sexy Webcam of Senate Predatory Lending Hearings
By 2.9.07
The Senate Banking Committee held a hearing Wednesday on predatory lending practices titled: “Preserving the American Dream: Predatory Lending Practices and Home Foreclosures.”
Payday Lenders Come Under Fire
By 12.1.06
“States should do more to restrict payday lenders, who pocketed $4.2 billion in fees from borrowers last year, according to a report released Thursday by the Center for Responsible Lending.”
