Auto Loans and Medical Debt Can Become Traps for Consumers

Lenders employ deceptive practices, aggressive (and illegal) collection techniques

Photo by Daniel Thomas on Unsplash

A new report reveals that auto loans and medical debt can be danger zones for consumers in the financial marketplace.

Report Highlights Unfair, Deceptive Practices in Consumer Lending | Advocate Andy | NewsBreak…

The report notes that auto lenders not only engage in deceptive practices to inflate the price of the loan but also use aggressive collection tactics that sometimes crossover into being illegal.

The report also highlights illegal collection practices when it comes to medical debt, including attempting to collect on debt that has already been paid and threatening lawsuits even when a debt is outside the statute of limitations.

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