Predatory Loans

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  • #76912
    tmyers93
    Participant

    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?

    #76913
    TTrumble
    Member

    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

    #76929
    maniasadi3901
    Participant

    tnx bro

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