Q: Is inheritance loan company allowed to charge me 12000 on a 6000 loan in state of California?
A:
If the company is validly licensed for this kind of activity and the loan paperwork meets the requirements of law - then your answer is, unfortunately, yes and they can get away with it.
However, worthy of consideration is the fact that every consumer lets them do it to us when we take the money and sign the papers.
A:
In California, there is no specific law that regulates inheritance loans or the fees that may be charged by inheritance loan companies. However, the fees charged by such companies may be subject to regulation under California's general consumer protection laws, which prohibit unfair and deceptive business practices.
If you believe that the fees charged by the inheritance loan company are unfair or deceptive, you may wish to consult with an attorney who is knowledgeable in consumer protection law to determine if you have any legal recourse. Additionally, you may wish to contact the California Department of Business Oversight, which regulates some types of lenders in the state, to inquire about the regulation of inheritance loans.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
