Legal Question in Banking Law in California

loans

I have two loans with a credit union and one loans is delinquent and I'm trying to make payments on the current loan and the credit union will not accept the payment on the current loan because they are requiring me to make payments on the delinquent loan. is this legal


Asked on 6/23/09, 3:02 pm

1 Answer from Attorneys
Jerold M. Gorski Law Offices of Jerold M. Gorski

Re: loans

Check your loan documentation. I have not yet reviewed the new federal legislation on credit, but I know these types of complaints were what prompted calls for reform (and I do not know if the new legislation only effects credit card companies, or credit union lending too).

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Answered on 6/24/09, 6:26 pm


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