Legal Question in Credit and Debt Law in Pennsylvania

Finance Company Keeps Approving Loans

Is there any protection against a finance company who consistly approves loans with outrageous interest rates to a spouse who has poor credit and who has a record of consistant late payments to this company from before? This company has let the husband use the wife's car for collateral and never had the wife sign for the loan. Also the wife has begged the manager to stop giving loans to her husband, but to no avail. They keep sending letters trying to get him to make a loan over and over again. Of course, the wife knows that she has a problem with the husband that she must handle, but she is wondering if there is any recourse she can have with the finance company. They seem to be like glorified loan sharks. Thank You


Asked on 11/16/04, 11:44 am

2 Answers from Attorneys
Mark Johns Mark Johns, Esquire

Re: Finance Company Keeps Approving Loans

The finance company may be violating Pennsylvania Unfair Trade Practices act. A strongly worded letter informing them that if they fail to desist from their current course of conduct will result in an action under that law. I offer free consultations.

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Answered on 11/18/04, 2:54 pm
Charles A. Pascal, Jr. Law Office of Charles A. Pascal, Jr.

Re: Finance Company Keeps Approving Loans

They may be violating both credit laws and consumer protection (unfair trade practices) laws. They certainly cannot take someone's car who is not on the loan. You should call an attorney who should research exactly what they have done and write them a letter informing them of possible legal action if they do not begin to follow the law. My phone number is 724-845-8340.

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Answered on 11/19/04, 12:32 pm


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