Long gone are the days of walking into your local bank, taking a loan in exchange for a mortgage, and having that bank serve as the mortgagee and the entity to which you owe money for the life of the loan. Today, loans are bought, sold, chopped up, and packaged for a variety of reasons. […]
Category Archives: Consumer Rights
Unauthorized and Impermissible Credit Inquiries Damage Consumers
The Fair Credit Reporting Act (FCRA) regulates “consumer reports,” including credit reports. Among the many prohibitions contained in the FCRA is the requirement that people using, accessing, or obtaining your credit report have a permissible purpose in doing so. The statute contains a list of permissible situations in which a consumer report may be obtained. […]
Beware Retailers’ Interest Free Deals
If you have been the victim of an unfair or deceptive practice in connection with your use of a credit card or any other interaction with a business, contact Enright Law. State and federal statutes governing unfair and deceptive trade acts and practices will often entitle you to multiple damages and attorneys’ fees and costs. […]
Has Your Lender Charged You for an Insurance Policy You Did Not Need?
Regulators and courts are scrutinizing lenders and loan servicers for buying force-placed insurance policies. A primary concern is the relationship among loan servicers, lenders, and insurers. So what is force-placed insurance? Essentially, lenders require that borrowers maintain insurance on their homes and sometimes cars. If a borrower fails to maintain insurance, or if insurance premiums […]
Is a Foreclosure-Related Letter an Attempt to Collect a Debt?
Foreclosure-related notices are treated differently than other types of debt collection letters. There are several important factors that determine whether they are subject to the Fair Debt Collection Practices Act. The Fair Debt Collection Practices Act prohibits various actions (like harassment and inaccurate statements) by so-called “debt collectors.” Successful claimants under the FDCPA can obtain […]
Can You Revoke Consent to Receive Debt Collection Calls and Texts?
The answer depends on whether the right to call and text was given contractually or gratuitously. You ever wonder why a credit card, lease, loan, or other agreement is dozens of pages of tiny print? So they can hide provisions whose sole purpose is to prejudice your rights. I’ve talked in the past about mandatory […]
Big Corporations Don’t Want to See You in Court
You probably think that if your consumer rights are violated by a bank, credit card company, or other corporation, you will have your day in court. However, what few consumers know is that many consumer contracts (like your loan, bank deposit, or credit card agreements) contain forced arbitration provisions. Arbitration is a process whereby a […]