I am a victim to a preditory loan, I saw on the news today that it is illegal to charge just interest on a loan ,

Asked about 2 years ago - Woodburn, OR

It is plaingreen loans and would like to see if they are doing something illegal here in Oregon.

Attorney answers (1)

  1. Michael Aaron Shurtleff


    Contributor Level 11


    Lawyer agrees

    Answered . Many loans violate various federal and state statutes. An interest only loan is not generally illegal in every instance but you will be best served to schedule and appointment to discuss the circumstances surrounding your obtaining the loan and go over all the loan docs.

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