My grandma refinanced her car three times and now has a loan that says the annual percentage rate is 35%. Is this legal?

Asked about 2 years ago - Roseville, CA

She never told anyone, and claimed the car was paid off. She is 82 and has mid-level autism. The lender is located in Roseville, Ca and she is in Rocklin. This last time her car was repaired and she couldnt pay the bill so she refinanced it. We asked for the papers bc we were planning on paying the $300 for the repair off (thinking that was all that financed), but the loan is really 7k. When we looked at it a little more, she she has refinanced 3 times and is paying 35% interest- is that interest rate legal?

Attorney answers (2)

  1. Robert Harlan Stempler

    Contributor Level 19

    2

    Lawyers agree

    Answered . Numerous contracts, documents, and a party who probably did not understand what she was signing make it clear that you will need to consult with an experienced car fraud attorney in your area to review all the documents and discuss what your grandmother understood and recalls. I recommend that you visit www.naca.net to locate a car fraud consumer attorney in your area.

    Please proceed promptly, as their are time limits, such as the statutes of limitations to be allowed to pursue a case in court.

    Robert Stempler (please see DISCLAIMER below)
    www.StopCollectionLawsuits.com
    Twitter: @RStempler

    NOTICE: The above statements are provided for general information purposes only and are not intended as legal... more
  2. Scott Richard Kaufman

    Pro

    Contributor Level 20

    Answered . We handle these matters statewide, feel free to send us the docs to review at no charge.

    http://www.CaLemons.com

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