Hey, Your LetmePayday Newsletter For 10 September 2022

This is your Newsletter. [LPB]( [LPL]( [LetmePayday Newsletter]( You Might Like     [Learn more about Jeeng](  [What Is a Predatory Loan?]( [What Is a Predatory Loan?]( Predatory loans manipulate borrowers into accepting payment terms that are exploitative. They’re used by unscrupulous lenders to extract more money than the borrower has the ability to repay, often through high-interest rates or fees they never expected. Definition and Examples of Predatory Loans A predatory loan can be just about any type of loan that gives the upper hand to the lender and stiffs the borrower out of their money through unfair or excessive lending terms. These terms can include unusually high-interest rates, fees and penalties, insurance, and other extra costs, or a payment plan that causes a borrower’s periodic payments or loan balance to increase over time. While the specific terms vary by the loan and lender, predatory loans are generally pushed through misleading mail, phone, TV, or door-to-door sales tactics known as “predatory lending” practices. These are aggressive bait-and-switch tactics that lenders, real estate brokers, contractors, or even lawyers knowingly engage in to lead borrowers into a transaction they didn’t expect or agree to, and can’t afford. Warning: Predatory lending is pervasive across the U.S., but the most common targets for predatory loans are those with low income, those with low credit, the elderly, people of color, and other groups who may otherwise be unable to obtain traditional mortgage loans, auto loans, personal loans, and other consumer loans as a result of their financial situations. [[icon] Read MoreÂ](  [Get the money you need](  [Who is responsible for the debt after a divorce?]( [Who is responsible for the debt after a divorce?]( If you’re going into a separation or ending your marriage, you may wonder who is responsible for the debt after divorce. It’s common to intermingle your finances, open joint credit card or loan accounts, or purchase a home when you’re married, making it tough to figure out what happens to that debt in the divorce. The answer to who is responsible ultimately comes down to various factors, including the laws of the state in which you live, any prenuptial agreements, and whose name was on loan or debt agreements. Who is responsible for the debt after divorce If you accumulated a lot of debt during your marriage, it’s important to understand what happens when you get divorced. You may not be responsible for things you think you are, and you may owe on debt you were sure your spouse should cover. Ultimately, a lot of the legal responsibility will come down to such factors as the laws of the state in which you live, any pre-nuptial agreements that were in place, and whose signature is on the loan or credit card agreements. For example, if you signed onto a loan as the borrower or cosigned a loan for your spouse during your marriage, you are legally liable for these debts. Or perhaps you took out a loan for your partner with the agreement that they would pay it off. You may agree that the person who said they would repay the loan is the one who owes it after the divorce, but that verbal agreement may not hold up in court if you’re the sole borrower, and it certainly won’t matter to the lender. [[icon] Read MoreÂ](  You Might Like     [Learn more about Jeeng]( Connect with LetmePayday on Social Media Pages [Facebook]( [Linkedin](    [Unsubscribe](