How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Gerald, Esq Your Own Question
Gerald, Esq
Gerald, Esq, Lawyer
Category: Legal
Satisfied Customers: 2731
Experience:  30 years of experience
Type Your Legal Question Here...
Gerald, Esq is online now
A new question is answered every 9 seconds

I live in Texas, bought a travel trailer. The won't let make

Customer Question

I live in Texas, bought a travel trailer. The won't let make extra payments on principal is this legal? The interest payment is 100.00 a month.
Submitted: 4 months ago.
Category: Legal
Expert:  Gerald, Esq replied 4 months ago.


Thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

Sadly, some lenders offer loans with pre-payment penalties. It is lawful to loan money with pre-payment penalties included in the loan agreement. These penalties are designed so that the lender gets a certain assured amount of profit on the money that is loaned. It is a bad deal for consumers who are not aware of the provision.

The provision should have been pointed out to you at the time of the loan. If it was not you can make a complaint to the Texas Attorney General Office of Consumer Protection:

Here is a link to the Texas law:

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow up questions, feel free to ask. Please note that I am generally unavailable Friday evening through Sunday.

Please do not forget to give me a positive rating. It adds nothing to your costs but it helps me greatly. Thank you.

If you are dissatisfied with my response PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you and only ask the same from you.

Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,


Related Legal Questions