By: Pradeep Saran
Unmask the deceits, dodge the debt traps, and safeguard your financial future.
– Predatory lenders prey on – Beware of: Too-good-to-be-true offers, guaranteed approvals, and minimal paperwork promises.
– Predatory loans often – Always: Read the loan agreement thoroughly before signing, and ask questions if anything is unclear.
- Predatory lenders can trap you in a cycle of debt - Break free from the cycle - – Remember: You have rights! Don't let fear or intimidation keep you from seeking help to break free from predatory debt.
- Be wary of lenders who - Never give out personal information - Check reviews and complaints
- Consumer Financial Protection Bureau (CFPB) - Federal Trade Commission (FTC) - National Foundation for Credit Counseling (NFCC)
- Educate yourself on loans - Improve your credit score - Create a budget