> Discuss Your Legal Issue > Ask a Lawyer > Business Law > I believe I have a predatory loan, I have paid over 150,000 in the past 15 years. The total loan was 46,000.

I believe I have a predatory loan, I have paid over 150,000 in the past 15 years. The total loan was 46,000.

1 Answers. Asked on Jan 31st, 2017 on Business Law - Pennsylvania
More details to this question:
When I asked for a payoff amount it is higher than the amount owed due to penalties.
Tagged as:
Answers Showing 1 out of 1
Answered on Jan 31st, 2017 at 12:28 PM

It sounds like you've not complied with the repayment terms if there have been penalties (and probably interest) applied to your account.  That can certainly add up and result in more payments than what would have been expected if you paid according to the contract.  You should consider having an attorney review your loan agreement, payment history and give you an opinion if there are errors in the amount the lender is telling you is due. 

I recommend that you seek out a local attorney for a more in depth discussion of the matter. I do not recommend that you take any action steps without such a consult. Act quickly because by waiting, you may lose certain rights and remedies available to you.

Report Abuse
Business Law
Beginning on the day a new business is launched, it will encounter a host of legal issues. From selecting the optimal business structure to negotiating contracts, from ensuring that the company's name doesn't infringe on another business's intellectual property to hiring new employers--almost everything that small business owners do touches on some aspect of business law. As a company owner or manager, your focus should be on successfully running and building a business. A law firm that focuses on business law will have attorneys who have a broad cross-section of experience on the myriad legal issues that affect all businesses, large and small.
Have an Business Law Question?
It’s Free & Easy.
Ask a Lawyer
Top Contributing Lawyers
Mark Tischhauser, Esq.

Attorney - Florida

313 Answers, 19 Legal Topics

Patrick Johnson

Attorney - Tennessee

239 Answers, 43 Legal Topics

Michael D. Siegel

Attorney - New York

149 Answers, 26 Legal Topics

Michael E. Fiffik

Attorney - Pennsylvania

124 Answers, 21 Legal Topics

Bruce Robins

Attorney - New York

100 Answers, 8 Legal Topics

R. Sam Price

Attorney - California

94 Answers, 13 Legal Topics

Lori Nevias

Attorney - New York

92 Answers, 31 Legal Topics

Business Law Local Law Firms  
In United States change location
Please select state Update
Do It Yourself Legal Forms

Popular Forums