Insights | February 02, 2023

Be Aware of Personal Loan Practices

Loans are a feature of modern life. When we think of loans, we often first think of big purchases: a loan to buy a car, a house, or to pay for college degree. However, sometimes unexpected expenses pop up that you haven’t budgeted for. For instance, you might need to pay a few hundred or a few thousand dollars for a wedding, funeral, home repairs, vacations, or medical treatment. Furthermore, you might find yourself in a situation where you are unable to put such a significant, unexpected expense on a credit card.

If you have ever been in this situation, you are not alone. This Consumer Alert discusses the different types of small loans, less than honest loan company business practices, and steps you can take to avoid these dishonest companies or recover if you already agreed to a loan.

Read the full alert here.

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