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Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 111636
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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KOHLER I BOUGHT A CAR FROM A DEALER PRICE 6000 MONTHLY

Customer Question

HELLO MY NAME IS***** BOUGHT A CAR FROM A DEALER PRICE 6000 MONTHLY PAYMENTS 184 2 YEARS LATER PAID EVERY MONTH BALANCE 5600 . WOW WE PAID 400 I DESIDED TO GIVE UP AND LET THEM REPOSSES THEY ARE SELL AT AUCTION CLAME I MUST PAY DIFFER 5600 AND SELL PRICE HELP PLEASE ***@******.***
Submitted: 6 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 6 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
What was the interest rate on the loan? How many months was the total loan term?
Why do you claim there has been some fraud?
Customer: replied 6 months ago.
is intrest only legal i guess i had to pay forever well sir could you please call my gal friend she can give you numbers I am sorry i am 78 LUCKY I CAN REMBER MY NAME please call DONNA CHRISTSON (###) ###-####THANK YOU
Customer: replied 6 months ago.
WRONG NUMBER (###) ###-####
Customer: replied 6 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 6 months ago.
PLEASE CALL DONNA(###) ###-####HANK YOU
Expert:  Law Educator, Esq. replied 6 months ago.

Thank you for you for your reply.

An interest only loan can be deemed an unfair and deceptive practice and a predatory loan. Your first recourse here is filing a complaint with the NY Attorney General Consumer Protection unit for the predatory loan. If the Attorney General cannot help, then you do have grounds to claim their practices are unfair and deceptive and as such not a valid loan and seek to get any balance vacated by the court and also seek attorney's fees and damages for their unfair and deceptive practices, which means getting a local consumer protection law attorney involved to represent you.

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