My bank is threatening to repossess my car. Can my bank do that?
If you have failed to make your car loan payments as agreed, or, in some states, if you have failed to maintain car insurance, the bank or lender can repossess your car. Repossession means that the bank can take your car back without going to court, filing a lawsuit, or even giving you any advance warning. However, banks and other lenders do have to follow some important rules in …
more
South Dakota a Favorite State for Credit Card Companies
Do you ever wonder why your Citibank credit card bill comes from South Dakota, and your payment goes there as well, when you know that Citibank is headquartered in New York? It is because of a combination of federal law and 50 different state laws that allow a bank in New York to use a South Dakota address to bill a customer in California. Usury Laws Many states have a usury law which …
more