Is the bank required to provide Truth in Lending disclosures for all loans?

No. The Truth in Lending Act (and Regulation Z) explains which transactions are exempt from the disclosure requirements, including: loans primarily for business, commercial, agricultural, or organizational […]

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Can I cancel the credit protection on my bank loan?

Generally, yes. You should be able to cancel the credit protection feature on your loan. However, you should read your account agreement for cancellation information, including to learn if there are any requirements or […]

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My loan was charged off. So why is the bank still requiring payment?

When a bank charges off a loan, it is an accounting procedure. It does not eliminate your obligation to the bank. Unless the bank forgave or cancelled the debt, you are still obligated to repay the loan. Once a loan has […]

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I paid off my mortgage / home equity / consumer loan and the bank charged me a high prepayment penalty. I wasn't aware that the loan had a prepayment penalty. What can I do?

Review your loan agreement, which is the contract between you and the bank, to determine if it specifies the circumstances that could result in a prepayment penalty. You may also contact the bank and ask about the […]

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How can I get a refund for a credit balance on my credit card / personal line of credit / home equity line of credit account? How soon will I get it?

It depends on how you’d like to receive the refund. If your credit card account/line of credit has a credit balance—in other words, money is owed to you—of more than $1.00, you have two choices: Roll the balance over to […]

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