Cartoon Guy Holding Stack Of Books

Purchase Agreement Or Purchase Offer

ABC Blocks

Any type of unscrupulous lending practice where a lender takes advantage of a borrower. it usually involves borrowers taking on high-cost loans they cannot afford to pay over time because the loans were based on the borrowers’ assets and not on their ability to repay the debt. low-income, elderly, or otherwise vulnerable people are often the target of this type of lending. while there are laws against certain specific types of predatory lending practices, the term is often used as a catchall for any fraudulent, abusive, discriminatory, or deceptive lending practice.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.