Los Angeles Consumer Complaints Attorney
Protecting consumers against unfair business practices including discriminatory lending
If you believe that you have been the victim of an unfair business practice, contact our unfair business practice attorneys. At Advocate Legal we have successfully resolved a number of claims based on unfair business practices of lenders towards borrowers.
Lender violations that do not rise to the level of fraud, or statutory violations that occurred before a statute was signed into law, are still considered unfair business practices that justify litigation. If you have been damaged financially by an unfair business practice by your lender, such as loan modification abuse that occurred before the California Homeowner Bill of Rights this may entitle you to a settlement. Contact us now to find out if a litigation based on an unfair business practice is appropriate for you.
Equal Credit Opportunity Act
When buying a home, obtaining the best loan possible is the key to protecting your financial future. However, lender discrimination based on race or age can prevent you from doing so. At Advocate Legal, our lawyers and staff provide the legal knowledge and experience consumers need to ensure they have an equal opportunity to obtain fair credit terms.
Under the Equal Credit Opportunity Act (ECOA), creditors cannot make lending decisions based on discriminatory factors. Lender violations of the ECOA occur when lenders discriminate based on the following factors:
Any actions by lenders and others who participate in the lending process that place certain borrowers at a disadvantage may be considered unlawful discriminatory lending. Such actions include blatant discrimination, disparate treatment of different groups and even unintentional lender bias.
Discrimination based on race or age and common causes
Race and age discrimination by lenders are two typical reasons for consumer complaints. As long as a consumer is old enough to enter into a contract, the person’s age should not affect the ability to obtain credit or the credit terms. Similarly, lenders cannot change loan terms based on the race of a borrower. Watch for signs of possible discrimination based on age, race and other factors:
If you have been the victim of discriminatory lending practices, you need to act immediately to protect your rights. Waiting too long may cause you to lose your right to damages from your lender.
What is a federal consumer complaint?
When consumers face discriminatory lending practices that place them at a disadvantage in securing a mortgage or home equity loan or getting a loan modification, they may file a complaint with the Consumer Financial Protection Bureau. Because the filing process does not involve a lawsuit, consumers can file the complaint themselves; however, consumers get only one chance to file a complaint that proves a practice by a lender was discriminatory.
The key to a successful complaint to the Consumer Financial Protection Bureau is knowing what information to present, how to present it and follow-up. Having an experienced attorney on your side increases your chances of getting a quick response from your lender. At Advocate Legal, we have gotten good results for our clients by filing complaints with The Consumer Financial Protection Bureau, often within 30 days. A complaint to the Consumer Financial Protection Bureau may work on its own or may be a first step before litigation.
Contact skilled real estate attorneys when lender discrimination harms your credit opportunities
When you face discriminatory practices by a lender based on factors such as gender, race or age, Advocate Legal works tirelessly on your behalf to obtain just results and hold the lender responsible. To learn more about your fair lending rights and options from experienced lawyers, visit our convenient office location for a free 15-minute consultation on Saturdays from 1 p.m. to 5 p.m., contact us online or call 800.846.0390 FREE today.