Tag Archives: loan

The People Are Speaking: Reform Payday Lending!


A recent set of reports from the well-known Pew Charitable Trusts indicates Americans have growing concerns about the payday lending industry and its uprightness (if that is even a word).  In essence, there is a desire for reform and further regulation of payday lending.  Nobody can really deny that payday lending fulfills a void in …

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Debt Collection A to Z: B is for Breach


Most people are generally familiar with the term “breach.”  It is commonly used to refer to someone’s failure to adhere to the terms of a contract, agreement, or other obligation.  Since breach generally relates to a contract the damages are different from what one can recover in a tort case.  A tort case is a case …

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Car Law A to Z: Y is for Yo-Yo Sale


Who likes being wound back and forth like a yo-yo? I sure don’t and I doubt you do either.  Unfortunately, some vehicle dealerships frequently string their vehicle purchase customers along and keep them coming back.  This phenomenon is known as a yo-yo sale.  Often called “conditional delivery” or “spot delivery”, a yo-yo  sale is legal under …

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Car Law A to Z: H is for Holder Rule


This is a little known doctrine in federal law that may allow you to withhold payments on a vehicle which is giving you a headache. The Preservation of Claims and Defenses Rule (the “Holder Rule”), 16 C.F.R. § 433.2 was designed to allow consumers to achieve redress from the entities that were collecting their debts—the …

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Vehicle Financing: Breaking Down the Numbers


Every year millions of Americans purchase and lease vehicles.  The vast majority of these transactions involve financing some portion of the purchase price a/k/a payments over time.  Vehicle financing involves a host of terms and concepts that are sometimes confused or misunderstood and when you are paying your hard-earned money you want to be sure …

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Another Unsatisfied Consumer: A Horror Story (or Two..or More)


As a consumer lawyer I have the privilege of meeting and helping everyday people try to sort out and resolve vexing problems typically of a financial nature.  Unfortunately I receive numerous calls each week from consumers across North Carolina (and some outside of our beautiful state) about purchases and other consumer transactions gone awry.  Some …

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Rethink that Tax Refund: Rapid or Regular–It Is (or Was) Your Money


Tax time is here.  Time of year when we all try to figure out which form to file, what instructions to read, and where are those receipts we were supposed to be keeping throughout the year.  Many Americans will be entitled to refunds and, consistent with our “instant gratification” society, they will exercise the option …

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(Further) Protection for Our Protectors: The Military Lending Act


We all need a little help sometime.  For many this help comes in the form of a loan.  Clearly if one needs money and another has money to loan the lender should be entitled to obtain some measure of return on the money borrowed.  This return is commonly known as interest and state and federal …

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Balloon Payments for Car Loans in North Carolina? Hot Air Indeed!


There are good ideas and there are bad ideas.  And then there are REALLY BAD ideas.  One North Carolina lawmaker has proposed a really bad idea that would negatively affect North Carolina consumers.   Representative Tim Moore of Cleveland County introduced a bill in the North Carolina House which would allow balloon payments for car loans.  Current North Carolina law limits …

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