Legal Question in Credit and Debt Law in New Jersey
im trying to optain a loan with bad credit.i was contacted by a company called guardian debt solutions and they offered me a loan but said i have to put money down and it counts toward 4 months of payments..is this normal practice? i googled there name and there was no complaints of any kind
Asked on 11/11/10, 4:10 am
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
It is not normal to make payments in advance. If the deal is legitimate, that is the equivalent of an increased interest rate which should be reflected in any rate computations and disclosures. If not, there is somthing else going on that is not for your benefit. You are right in being cautious about this company; you would do well to avoid it. /p/ See also: http://info.corbettlaw.net/lawguru.htm
Answered on 11/16/10, 6:33 am
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