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Home / Opinion Digests / Consumer Protection – FDCPA – Consumer Loan – Business Purpose (access required)

Consumer Protection – FDCPA – Consumer Loan – Business Purpose (access required)

A Richmond U.S. District Court grants summary judgment to defendant lender on plaintiff’s suit under the Fair Debt Collection Practices Act, as plaintiff borrower has admitted that he used a majority of the line of credit for a business purpose, as he spent approximately $200,000 of the $250,000 loan to pay off a 2004 business ...

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