What is predatory lending?
The Community Reinvestment Association defines predatory lending as “any unfair credit practice that harms the borrower or that supports a credit system that promotes inequality and poverty.”

Protect yourself against predatory lending.
Better Buying Decisions
• Shop around for good interest rates.
• Do not trust door to door sales people.
• If an ad claims NO CREDIT, BAD CREDIT, NO PROBLEM more than likely it is to good to be true!
• Never be afraid to ask questions.

If you are about to sign a loan
• Have you read the information carefully?
• Do you understand the terms of the loan?
• Are there any strange fees that you do not understand?
• Is there credit insurance/protection attached to the loan that you do not need?
• Beware! Is there a balloon payment at the end of the loan?
• Are there up-front costs?
• What is the interest rate?
• Lower payments are not always the best deal, look at total cost of the loan.
• NEVER SIGN A BLANK DOCUMENT!

Remember you have the right to know
• The total cost of the loan.
• The interest rate and fees.
• The monthly payments.
• How long it will take to pay back the loan.
• You have three days in which to cancel a loan.

If you have other questions you can call

CCCS
1-888-755-2227

The Attorney General
1-919-716-6001