Justice247
Junior Member
Louisiana
Do I have any legal grounds to seek some type of forgiveness from my bank on any portion of a loan, which seems to be a lemon. I will express the situation, a loan of approximately 36,000 was financed for 30 years, however in the contract, the loan agent did not clearly state it would be for 30 years, nor did the bank send me monthly statements to show my balance over the 4 and 1/2 year time spand. Moreover, if the bank would have fulfilled its obligation to provide clear information about the loan by means of expressing such an obligation was a financial disaster, with the notion and obligation of caring for the customer. I would have not agreed to such terms and conditions and if I would have been provided statements as I believe a customer should have the right to monthly, I would have personally taken my self out of such a financial trap and disaster. As a result when I finally saw my balance I was so upset because out of the approximately $14,000 paid only about $1200 went to the principal.
Do I have any legal grounds to seek some type of forgiveness from my bank on any portion of a loan, which seems to be a lemon. I will express the situation, a loan of approximately 36,000 was financed for 30 years, however in the contract, the loan agent did not clearly state it would be for 30 years, nor did the bank send me monthly statements to show my balance over the 4 and 1/2 year time spand. Moreover, if the bank would have fulfilled its obligation to provide clear information about the loan by means of expressing such an obligation was a financial disaster, with the notion and obligation of caring for the customer. I would have not agreed to such terms and conditions and if I would have been provided statements as I believe a customer should have the right to monthly, I would have personally taken my self out of such a financial trap and disaster. As a result when I finally saw my balance I was so upset because out of the approximately $14,000 paid only about $1200 went to the principal.