Ten Common Consumer Law Violations

by Sam Marks

The National Consumer Law Center is the source for this information.  They provided the list as part of their advertising materials designed to sell legal treatises to attorneys.  I already own the books, but I liked the list and thought I’d share these common consumer law violations with you.

  1. Entities foreclosing on mortgages lack standing or do not comply with HAMP, FHA or other mortgage modification requirements.
  2. Subprime loans that are unaffordable, fail to include an escrow account, or contain prepayment penalties may lead to $4,000.00 statutory damages plus all finance charges and fees paid, plus attorney fees.
  3. Employers pull consumer reports but do not send required notices.
  4. Voice mail not revealing that the caller is a collector can result in $1,000.00 statutory damages and attorney fees.
  5. Doc fees, etch, desert protection, GAP, or other overpriced auto add-ons are slipped in without permission or through deception.
  6. Second mortgages can be rescinded where married homeowners are not given four copies of a TIL recession notice to keep.
  7. TIL requires mortgage servicers to properly credit payments and provide a requested payoff statement or mortgage holder’s identity. Mortgage Brokers no longer can encourage appraisers to misrepresent home values.
  8. Debt buyers bring collection lawsuits outside the applicable statute of limitations.
  9. Auto lenders trip up on unique state law repossession rules not found in the standard UCC version.
  10. Millions of cars are sold each year with undisclosed prior wreck damage. A federal database now provides this history to the public for $2.00.
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