Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

predatory lending

Read a random definition: lost will

A quick definition of predatory lending:

Predatory lending is when a lender takes advantage of a borrower by giving them unfair or abusive loan terms. This often happens to people who are elderly or have low incomes. Examples of predatory lending include not telling the borrower important information, charging very high interest rates or fees, and pricing the loan based on how risky it is. Predatory lenders want the borrower to fail and not be able to pay back the loan. Laws have been made to try to stop this from happening.

A more thorough explanation:

Definition: Predatory lending is when a lender takes advantage of a borrower by imposing unfair or abusive lending terms. This often happens to people who are elderly or have low incomes. Examples of predatory lending include:

  • Not telling the borrower important information or lying to them
  • Charging very high interest rates or fees
  • Using risk-based pricing to make the loan harder to pay back

These actions, either alone or together, make it more likely that the borrower will not be able to pay back the loan and will default. Predatory lending is illegal and there are laws to protect borrowers from it.

Examples:

Example 1: A lender tells an elderly person that they need to take out a loan to pay for home repairs. The lender doesn't tell the person that they could get a grant to pay for the repairs instead. The lender charges a very high interest rate and fees. This is an example of predatory lending because the lender didn't give the borrower all the information they needed to make a good decision.

Example 2: A lender offers a loan to a person with a low income. The lender tells the person that they can only get the loan if they agree to pay it back in a very short amount of time. The lender knows that the person won't be able to pay back the loan in that amount of time. This is an example of predatory lending because the lender is setting the borrower up to fail.

These examples illustrate how predatory lenders take advantage of vulnerable people by not giving them all the information they need to make good decisions and setting them up to fail by imposing unfair terms.

precedent | Predatory pricing

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
LSD+ is ad-free, with DMs, discounts, case briefs & more.