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Predatory Loan Offer
The following is an example of a predatory loan offer. Recognizing these characteristics of predatory lending is the first step to helping you avoid these misleading tactics. (For a detailed list of these tactics, check out “Predatory Lending Tactics” in the Information Booth.)
Take notice of the high pressure and misleading sales pitch (in bold). Also, be sure to notice that loan terms (fees, interest rates, payment conditions) are not given upfront.
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