Ardmore, OK asked in Consumer Law for Oklahoma

Q: In the MLA I was supposed to be denied the loan, not fully aware of the 79% interest rate that would follow.

The lenders aren't allowed to sign loans with military members or spouses of members with these types of loans. I have a copy of the agreement showing a 79% interest on the loan yearly. With the MLA it is supposed to be limited or capped. I have more than paid the loan back but with the growing interest and financial bind it has put me in, renewing and not being able to pay it off has hurt me financially, and my credit by late payments etc. I need grounds to show/tell the lender they were in the wrong from the start with signing a military member on a preditory loan. I can not stay above water trying to continue to pay and pay. It's never ending and the interest paid has certainly paid the original loan

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1 Lawyer Answer
David Humphreys
David Humphreys
Answered
  • Consumer Law Lawyer
  • Santa Fe, NM
  • Licensed in Oklahoma

A: You should obtain a consultation with a consumer law attorney. Search the web for lawyers that handle consumer fraud in Oklahoma; thats what happened to you. You need to get a competent attorney and take action. The stress of your situation is going to go away unless you deal with this problem and get started on a solution.

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