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  • Payday Loans - Payday Loans Law Resources - LawInfo
    for an additional fee If rolling over happens repeatedly the annual interest rate APR can increase dramatically into triple digits and additional lending fees apply Truth in Lending Law These types of loans are not the most effective way to make ends meet but these lenders nevertheless must abide by the federal Truth in Lending Act and disclose the cost of the loan in writing including Amount borrowed Finance charge Interest rate Credit costs Length of the loan Financing Alternatives Payday loans are legal and controversial in many states consumers have alternatives according to the Federal Trade Commission the nation s consumer protection agency Alternatives include Credit unions Credit card cash advances Small community banks that offer short term loans on small amounts Some creditors are willing to work with customers who have immediate and emergency financing needs by extending time on debt repayment Overdraft protections offered by banks can guard against additional credit issues Credit for Military Service Members Those wearing the nation s uniform have certain protections under federal law and Department of Defense rules The military annual percentage rate is limited to 36 percent including fees Creditors serving the military cannot get access to checking or bank accounts must agree to arbitration and disclose the cost of the loan Credit contracts that violate these military protections are void Credit Counseling Service Consumers who have trouble meeting their financial obligations can use credit counseling services at no or nominal cost to develop a debt payment plan with their creditors or to develop a budget Share this information Search LawInfo s Payday Loans Resources Recommended Websites Bureau of Consumer Protection The Federal Trade Commission s Bureau of Consumer Protection s website Still have questions Contact experienced Payday Loans Attorneys on LawInfo com or learn more about Consumer Protection Find

    Original URL path: http://www.lawinfo.com/pay-day-loans.html (2016-02-15)
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  • Personal Loans - Personal Loan Law Resources - LawInfo
    borrower will get the loan before receiving the loan application is a sign of an unscrupulous lender All legitimate lenders will verify an applicant s credit and financial history before deciding to make a personal loan High Interest Rate Although borrowers with credit problems traditionally pay higher interest rates because the risk is greater the interest rate cited by a lender should be competitive Unscrupulous lenders take unfair advantage of borrowers with credit issues Loan Shopping Discouraged Comparing loan rates is a hallmark of capitalism It s called competition and legitimate lenders recognize this law of economics Lenders that do not are seeking to take advantage of borrowers in need of cash Pressure Unprincipled lenders will pressure borrowers to take out loans for more money than they need and possibly more than they can afford to pay off Social Security Number A lender will require a social security number to conduct a proper credit check Borrowers must not do business with lenders that say they will not perform a credit check but still require the borrower to provide a social security number Threatening Legal Action If a lender threatens to take legal action if the borrower does not sign the papers and close the loan the borrower needs to know that the threat is meaningless Loan applicants by right can reject a loan offer and use another financial institution without any reprisal legal or otherwise Unsolicited Loan Offers Lenders that phone or send email messages to potential borrowers without permission inviting them to take out a personal loan are more interested in obtaining personal information including social security and bank account numbers That is called phishing The information on this page is meant to provide a general overview of the law The laws in your state and or city may

    Original URL path: http://www.lawinfo.com/personal-loans.html (2016-02-15)
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  • Product Warranties - Product Warranty Law Resources - LawInfo
    particular state law The state s consumer protection agency will have additional information The most common of implied warranties is a warranty of merchantability That simply means that the product will do what it is supposed to do A warranty of fitness for a particular purpose occurs when the seller advises that the product is suitable for a certain use For example a propane BBQ will in fact use propane The exception is when a product is sold as is These do not have an implied warranty As is sales are not allowed in several states including Kansas Maine Maryland Massachusetts Mississippi Vermont West Virginia and the District of Columbia Extended Warranties Many merchants try to sell customers extended warranties on products they buy But these are not warranties They are service contracts They provide for repairs and product replacement for a certain length of time The difference is that a warranty comes with the product and an extended warranty is offered at an additional cost Consumers considering the purchase of an extended warranty should consider these factors If the duration of the existing warranty is sufficient The cost of the extended warranty The length of the extended warranty The likelihood that the product will fail after the manufacturer s warrantee The potential cost of making repairs The extended warranty company s reputation Product Warranty Problem Prevention Consumers can do several things to prevent or minimize problems arising from warranty disputes Consumers should Before buying the product read and understand the warranty and its limitations When shopping online print a copy of the warranty Save the purchase receipt along with a copy of the warranty Determine if the Better Business Bureau has complaints against the warranty company Maintain the product as the warranty requires Use the product for what it is intended Do not abuse the product Product Warranty Dispute Resolution If a warranty issue arises with the product consumers should Contact the retailer first for corrective action If the retailer cannot address the issue write to the manufacturer and send a copy of the letter by certified mail with return receipt Contact the state or county consumer protection agency If none of these avenues get results consumers may consider Informally resolving the dispute through a dispute resolution program Taking the manufacturer to small claims court A product liability lawsuit for damages and attorney fees The information on this page is meant to provide a general overview of the law The laws in your state and or city may deviate significantly from those described here If you have specific questions related to your situation you should speak with a local attorney or find qualified local Product Warranty Attorneys on LawInfo Or click to find Product Warranty Attorneys in a specific location Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York

    Original URL path: http://www.lawinfo.com/warranties.html (2016-02-15)
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  • Rent-to-Own Contracts - Rent-to-Own Contracts Law Resources - LawInfo
    Continue to pay and keep in force fire flood and other applicable insurance Other considerations include How maintenance and routine repairs are to be made Which party is responsible for property damage and under what conditions How the buyers expenses for maintenance applies to the purchase If the seller fails to make the mortgage payments and the home enters foreclosure the rent or lease to own contract will have been breached and the buyer does not have a home to buy But the buyer may have a valid breach of contract lawsuit if it is so specified in the agreement Option Agreements Option agreements have many of the same terms as a rent to buy agreements But options are different in that they give the buyer the option meaning the right to buy the home from the homeowner at some future date The seller also agrees not to sell the home to anybody else as long as the option is still in force and the buyer is meeting the payments and abiding the other terms of the agreement The sale price is not determined which can be fair to both buyer and seller based on the market conditions at the time of sale Yet if home prices go up the buyer may be priced out of the home and decline to exercise the option Other important considerations to option contracts include The option fee which is generally 1 to 3 percent of the purchase price How and when the option fee is paid If the option fee is refundable should the buyer not exercise the option What percentage of the rent will be applied to the sale price Credits such as the buyer paying for landscape maintenance applied to the monthly rent When the option will expire If the buyer

    Original URL path: http://www.lawinfo.com/rent-to-own-contracts.html (2016-02-15)
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  • Sweepstakes - Sweepstakes Law Resources - LawInfo
    on the card The scammer cashes the card and the entrant suffers an instant Loss of the money on the card Others may inflate the prize For example the winner of a luxury cruise arrives at the dock to see a dilapidated two sleeper boat moored at a dock of a small bug infested lake Sweepstakes can be confused with lotteries and contests The difference is that lotteries require a payment to buy a chance to win and a contest requires the entrant to perform a skill such as essay writing To protect consumers against sweepstakes scams they are regulated by federal and state laws and violators can face significant fines What Sweepstakes Holders Must Do The law requires sweepstakes holders to do the following in their solicitation materials Prominently state that no purchase or payment is necessary to enter Official rules and the entry form must be in plain language If the no purchase statement is included in the rules it must stand out in a separate paragraph printed in capital letters in bold or other contrasting type That buying or not buying the product or service will not impact the chance to win State the deadline to enter Disclose the date the winner will be determined Sweepstakes Holders Cannot Tell Consumers That a person has already won a prize unless they truly have That a person has been selected to win a prize or is receiving special treatment That the sweepstakes is authorized by the government court state agency or otherwise mislead the consumer about the source of the sweepstakes Sweepstakes Scams Some sweepstakes are merely scams that cheat thousands of people every year If a sweepstakes violates any provision of applicable law it is likely a scam Some sweepstakes scams entice people into paying money to contribute to a bogus charity or collect a prize they are told they have already won but that may not exist or is far less valuable than the fee required to redeem the prize Other sweepstakes scams trick people into providing personal and financial information that is sold to marketers and used to deluge them with spam telemarketing calls mail promotions and other sweepstake scams How to Avoid Sweepstake Scams Consumers should disregard sweepstakes solicitations if the sweepstakes Requires a purchase or to pay something to improve the chance to win Does not provide sufficient contact information for the organization holding the sweepstakes Claims in a mailed solicitation that the recipient won a prize when the solicitation was bulk mailed Says that the consumer has won a sweepstakes that was not entered Requires a check or money order be sent overnight to claim a prize Uses a variation of a well known company name Requires attendance at a sales meeting to win a prize Asks for a call to a toll free number and then directs the caller to call a 900 number Registers participants at a public event or on an online publication Asks for check or credit card account

    Original URL path: http://www.lawinfo.com/sweepstakes.html (2016-02-15)
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  • Telemarketing - Telemarketing Law Resources - LawInfo
    by or on behalf of Political organizations Charitable organizations Telephone surveyors For profit telemarketers can call on behalf of a charitable organization However they must honor a consumer s demand not to receive calls from that particular charity Exceptions to the Do Not Call Registry Businesses are allowed to phone Do Not Call numbers of the consumers with which it has an established relationship The business can contact the consumer for up to 18 months after a consumer s last purchase payment or delivery Companies that consumers have contracted can call up to three months after the consumer s inquiry A business relationship can exist if the consumer has answered questionnaires or surveys However callers must still obey the law if the consumer instructs the company not to call In this case the consumer should keep a record of the date and the company s name or telephone number as evidence Other Do Not Call Protections The Telemarketing Sales Rule also prohibits deceiving and abusing telemarketing calls and sets standards of conduct for telemarketing such as Calls must be placed between 8 a m and 9 p m Telemarketers must disclose the identity of the seller or charitable organization Telemarketers cannot lie about the terms of any offer and must disclose information about the merchandise or services they are offering as well as the terms of the sale Prerecorded Calls Prerecorded calls are called robocalls Businesses using robocalls must have a consumer s written permission to call and they must tell consumers how they can stop these calls at the beginning of the recorded message and provide an automated opt out feature However these exceptions exist Informational messages such as a reminder for an appointment Political calls Calls from some healthcare providers Messages from debt collectors Messages from banks telephone

    Original URL path: http://www.lawinfo.com/telemarketing.html (2016-02-15)
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  • Vehicle Repossession - Vehicle Repossession Law Resources - LawInfo
    creditor must use reasonable care to prevent the property from loss or theft If the creditor cannot account for the property the defaulted borrower may be entitled to compensation Repossession Cannot Breach the Peace The creditor may legally come onto the borrower s property to take the vehicle but cannot breach the peace Some states define a breach of the peace using or threatening physical force and in some cases opening a garage door or taking the vehicle without the borrower s permission If a breach of the peace occurs the creditor may be required to pay a penalty or compensate the borrower for any harm to the borrower or property damage A breach of the peace may also give the borrower a legal defense if the creditor sues to collect a deficiency judgment That is simply the difference between what is owed on the vehicle and the amount the creditor gets in selling the vehicle in either a public or private sale Redeeming the Repossessed Vehicle The defaulted borrower may want to redeem the vehicle meaning to buy it back Some states require the creditor to tell the defaulted borrower when and where the public sale will occur or when the private sale was made Some states allow loans to be reinstated but the defaulted borrower must pay the past due amount and the expenses the creditor incurred in repossessing the vehicle Commercially Reasonable Resale of Repossessed The resale of a vehicle that has been repossessed must be commercially reasonable This means the price has to be at fair market value If the creditor sells the vehicle and the sale is not commercially reasonable the defaulted borrower may have a damage claim against the creditor or additional deficiency judgment defense The difference between the balance on the vehicle s

    Original URL path: http://www.lawinfo.com/vehicle-repossession.html (2016-02-15)
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  • Auto Insurance - Auto Insurance Law Resources - LawInfo
    pay fore the costs Share this information Search LawInfo s Auto Insurance Resources Additional Auto Insurance Articles Is An Insurance Company Obligated To Issue Me An Automobile Insurance Policy Can I Be Added To My Parents Automobile Insurance Will My Rates Go Up Or Will I Lose My Insurance If I Am Involved In An Accident Or Get A Ticket How Can I Obtain Insurance If Several Companies Have Rejected Me What Does Comparative Negligence Mean Do I Have A Grace Period For The Payment Of My Automobile Insurance Premium If I Call An Agent For A Quote Of An Automobile Insurance Premium And Later Decide To Apply For A Policy Based On The Rate Quote What Happens How Long Does The Insurance Agency Have To Respond To My Claim Why Does The Insurance Company Have To Investigate The Claim When The Police Cited The Policyholder What Is Full Coverage More Auto Insurance Resources Top Related Auto Insurance Topics Motorcycle Insurance Truck Insurance Still have questions Contact experienced Auto Insurance Attorneys on LawInfo com or learn more about Insurance Law Find an Attorney in Your Area Legal Issue e g Personal Injury Location Area Code OR City State Advanced Search

    Original URL path: http://www.lawinfo.com/auto-insurance.html (2016-02-15)
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