Legal Question in Banking Law in Utah
Cancellation Fee assessed for cancelling a loan?
In the state of Utah, can a credit union assess a cancellation fee for me cancelling my loan? I didn't sign anything that states I was obligated to do so, but they are saying they will charge me for the processing and underwriting of the loan I cancelled.
Asked on 12/11/07, 9:36 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Cancellation Fee assessed for cancelling a loan?
You are not obligated to pay the fees unless you had agreed to do so.
Answered on 12/11/07, 11:10 pm
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