Predatory Loans

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    I have two predatory loans that went to collections, and I’ve arranged to settle them. However, if I can prove they were predatory and they add interest over the time of the loan,like my balance wasn’t decreasing, it was increasing, is there any LOE that I could write as to why I decided to terminate this loan?


    Hello tmyers93,

    This sounds like there’s quite a backstory to the circumstances surrounding these loans. You are simply going to have to discuss it with your counselor to determine exactly how to deal with it other than simply settling and paying off the debt.

    Tim Trumble
    Online Operations, NACA


    tnx bro

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