Representing Businesses and Individuals in Chicago and Northern Illinois

Have You Been The Victim Of Predatory Lending?

While there is no formal legal definition of predatory lending, it is widely considered to be the use of unfair or abusive practices by lenders to take advantage of the people who are borrowing from them during loan origination. This term does not apply to similarly predatory practices that may be used later during the foreclosure process. If you have reason to suspect that you may have been a victim in one of these schemes, a lawyer from Whiteman Law, can help.

What Is Predatory Lending?

Predatory lending may include providing borrowers with misleading, incomplete or erroneous information regarding such aspects of the loan as interest rates and hidden fees, or using frequent and unnecessary refinancing to incur profit and withhold benefits from the borrower. Perhaps the most flagrantly fraudulent form this can take is when a lender actually alters legally binding documents after they have been signed by the borrower.

It is the unfortunate but true reality that courts in foreclosure cases are often biased in the favor of the lender, tending to assume that the blame rests largely or even entirely with the defaulting borrower. This assumption can lead to the oversight of evidence of predatory lending within the case, and it takes a dedicated and experienced attorney to fight past this stigma and uncover fraudulent or abusive terms within your loan papers.

We Can Help Defend Your Rights

Our foreclosure attorney, gives his individual attention and brings his wealth of knowledge to every case that comes across his desk. If there is any evidence of predatory lending within your loan documents, he will work tirelessly to find it. Legal action can be taken to hold the company accountable for the violations of your consumer rights.

Call our firm today at 312-655-1000 or contact us online to learn more about how we can help.