HELP! Theres a Shark

[SharkBuddy]

Hello, I am looking for assistance with a shark loan where:
Person filed Bankruptcy 3+years ago
Has a settlement that he has to finish so cannot file for bankruptcy again.
Placed his house as collateral by having his wife be guarantor
paid the "lender" about 2 months at $200+ daily from at least December to Part of February
Instead of just not Paying Went with a Creditor Relief agency
The "Lender" has increased the amount due from $20,000 original amount to $60,000+ due to Fees and "accumalated interest
The "Lender" has placed a lien on the house and refuses to settle at a reasonable rate.
Person, his wife, and 4 children live in the house as a primary residence
They have a Contract that is notarized
They have threaten to Foreclose the home
They Contractually Charged his bank account for missed payments Without Notifying the Person
Continue to Charge Fees and Interest even when the Person is trying to settle for the amount at a reasonable rate and payment

Can he win against the "Lender" if he gathers more proof that the "Lenders" are doing the same thing to more people besides him?
Can Home Owner Equity protection act/law help him?
Can any usury Law or similar help out his situation?
Is there any other help he can Get?
Is there any help at all

 

[Zigner]

This site is for US law questions only. Since you failed to give us the name of the US state involved, we can only assume this isn't a US law matter. In any case, Person should likely speak to an attorney.

Hello, I am looking for assistance with a shark loan where:
Person filed Bankruptcy 3+years ago
Has a settlement that he has to finish so cannot file for bankruptcy again.
Placed his house as collateral by having his wife be guarantor
paid the "lender" about 2 months at $200+ daily from at least December to Part of February
Instead of just not Paying Went with a Creditor Relief agency
The "Lender" has increased the amount due from $20,000 original amount to $60,000+ due to Fees and "accumalated interest
The "Lender" has placed a lien on the house and refuses to settle at a reasonable rate.
Person, his wife, and 4 children live in the house as a primary residence
They have a Contract that is notarized
They have threaten to Foreclose the home
They Contractually Charged his bank account for missed payments Without Notifying the Person
Continue to Charge Fees and Interest even when the Person is trying to settle for the amount at a reasonable rate and payment

Can he win against the "Lender" if he gathers more proof that the "Lenders" are doing the same thing to more people besides him?
Can Home Owner Equity protection act/law help him?
Can any usury Law or similar help out his situation?
Is there any other help he can Get?
Is there any help at all

 

[henbob6]

You only need to post once, Sharktrout. But your headline made me laugh, so thanks!

 

[quincy]

You only need to post once, Sharktrout. But your headline made me laugh, so thanks!

(The other threads were deleted as duplicates.)

Your state name is important, SharkBuddy, but I agree with Zigner that you will probably need an attorney in your area rather than an Internet forum. The contract that was signed will need a personal review - and we cannot do personal reviews of contracts on this forum.

Good luck.

 

[FlyingRon]

And since usury laws are state laws, we can't even guess without knowing what state it is in. Some states have no usury limits at all.

If I had to guess, I'd say this was one of the California hard money lenders. Those with finance licenses are exempt from the 10% usury law.