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Is there a lawyer that can review a short contract for a…

Is there a lawyer that...
Is there a lawyer that can review a short contract for a loan and just give me an idea that there is nothing suspect in the contract.
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1/3/2018
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,754
Experience: Attorney with 29 years of experience.
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Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

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Good morning. Could you attach the document for me? Thanks.

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Customer reply replied 4 months ago
Ok, I pretty much understand the interest rates, payment, unsecured loan, etc. Just want to make sure there's nothing hidden that may cause issues later. Thx.

Good morning. This is a pretty standard loan agreement. Of course, it is heavily biased toward the lender, but not unusual. There really are no "gotcha's" as long as you pay on time. I will say that I was surprosed at the origination fee of 5%. That's really high. And, you want to be aware that if you are late, you want to make sure you pay the late charges immediately as any later payments are first applied to those. Borrowers can get into trouble by not making sure late penalties are paid because their payments don't get applied to the loan first and thus they are accruing late payments every month because their payments are not made in full. Finally, I never like arbitration requirements, but if you want the loan, you pretty much have to accept them because banks rarely waive them. Otherwise, you should be fine.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,754
Experience: Attorney with 29 years of experience.
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Customer reply replied 4 months ago
Great, that's what I needed to know. Thx!

You're very welcome! It's been my honor and privilege to help you with this. If I can help you in any way in the future, I'll be happy to help. For easy access, my bookmark is: www.justanswer.com/law/expert-legalbeacon/ . Or, simply request “Richard only” in the first line of your question.

Thank you so much for the 5-star rating! I know rating takes an additional step and I truly appreciate you taking the extra time!

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Richard
Richard
Richard, Attorney
Category: Legal
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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