When a person is most in need of financial help it's often when help is hardest to find. Lenders may back away when they hear about overextended credit cards or missed loan payments. That’s when hard-pressed consumers may be lured by newspaper ads placed by certain loan brokers — ads promising to arrange loans "even if you have a poor credit rating." It may be tempting, but credit experts strongly advise against going this route.
Please review the following information on your rights to protect yourself when doing business with a loan broker.
Your Rights When Dealing With a Loan Broker
From Our Consumer Files – The Case of the Loan Broker Who Didn’t
From Our Consumer Files – The Case of the Phoney Loan Broker
