QUESTION
Is it against law to have to make payments on a loan when I have not received the funds
Asked on Oct 11th, 2013 on Debtor and Creditor - Nevada
More details to this question:
I am in the process of selling my payment stream in return for a lump sum. The deal has not been closed but they are deducting 2 months of payments from the funds that they will send
1 ANSWER
R. Christopher Reade
It is not uncommon in an loan agreement for the lender to keep an interest reserve from the loaned proceeds.
Answered on Oct 14th, 2013 at 7:03 PM