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• "I sent this letter certified after receiving the free guide [from] Phillips & Garcia P.C. Saved Foreclosure. Thanks a million!" A.D. from Colorado
• After seeing first hand what you are up against concerning the big banking companies, we are even more amazed that you are willing to fight the fight. The little guy needs your help and your fearless attitude. You are good people and true Americans. We are honored to be called your friends. R.R. - Mich., Lockout & Trashout Victim
• The attorneys were very professional and I felt as though they always had my best interest in mind. Without them I would have been pushed around and just another number to the bank. N.L., Wrongful Lockout Victim
• Thank you Mr. Phillips. If we hadn't found you the [Bank] would have foreclosed on our property and I can't imagine the misery that they would have caused. S.N. - Arizona

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What are predatory lending practices?

A:

Predatory lending is any unethical practice that a creditor will use to take advantage of you in a loan situation. This may include:

• Attempting to force you into taking a loan that you don't need
• Having you agree to unfair terms, or terms that are illegal
• Not fully disclosing the terms of a loan
• Charging you too much for fees and interest

In 1968, the U.S. enacted the Truth in Lending Act (TILA), which is meant to protect consumers against predatory lending. TILA provides a set of regulations that lenders must abide by.

These regulations state that the terms of a credit agreement must be provided in a clear and obvious manner. The terms must also be provided in writing, and include specific details about the arrangement.

If any of these regulations are not met, then you may take legal action. You may also be entitled to compensation for damages caused by predatory lending. Options for legal recourse include filing a class action lawsuit against the company.

What are the advantages of a class action lawsuit?

In an individual lawsuit in regards to predatory lending, an individual may recover no less than $100 but no more than $1000.

In a class action lawsuit in regards to predatory lending, there is no minimum that a class member can recover, and a maximum of $500,000. Additionally, in a class action lawsuit, each member's argument is supported by the other members of the class.

Contacting a Massachusetts Consumer Class Action Attorney 

If you are considering filing for a predatory lending case but aren't sure how to proceed, contact a Massachusetts consumer class action attorney at Phillips & Garcia to schedule your FREE legal consultation today - 1-877-892-5620.

Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 

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