Lending Fraud

If you have the victim of lending fraud, our legal team of New Jersey consumer fraud attorneys may be able to help you recover damages. Please take a few moments to look over the information on this page to learn more.

back to top ]

 

What is lending fraud?

Lending fraud scams are often dangled in front of needy consumers, promising great, helpful loans that sound too good to be true-and visually are. After the consumer is hooked they find out that their newly acquired loans feature high-interest clauses and are stuffed with hidden fees.

back to top ]

 

What are the Signs of Lending Fraud?

There are no limits to the different types of loans or types of consumers that lending fraud traps can impact. Consumers need to be on the lookout for telltale signs, including:

  • Loans with built-in, high interest rates, unrealistically high or low monthly payments, automatic refinancing, etc.
  • Lenders eager to approve loans without checking credit history
  • Retroactive hidden fees and costs
  • A disclosure lacking information
  • Blank forms that the lender may fill in after the terms are agreed upon

back to top ]

 

Am I Protected From Lending Fraud?

The Truth in Lending Act protects, passed by Congress in 1968, protects consumers against lending fraud. The Act maintains that lenders must provide the following information about a loan:

  • Payment schedule
  • Finance charges
  • Amount financed
  • Annual percentage rate, with information concerning variable-rate
  • Creditor’s identity
  • Length of the loan and the number of payments needed

back to top ]

 

How Do I Contact an Attorney to Discuss My Case?

Please fill out the Free Case Evaluation form on the top right side of this page and we will respond within 24 hours.

 
If you wish to speak with someone immediately, call our client-intake specialist, Ken Cooper, at (856) 308-5426.