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pkropfli
Jul 6, 2012, 09:43 AM
i am taking a personal loan ,the prommisory note calls for a upfont security deposit. they indicated the deposit will be applied to the first 3 payments.this is not specified in the documents. is this an acceptable practice and what would be the risk.
smoothy
Jul 6, 2012, 09:57 AM
i am taking a personal loan ,the prommisory note calls for a upfont security deposit. they indicated the deposit will be applied to the first 3 payments.this is not specified in the documents. is this an acceptable practice and what would be the risk.

In what country would this be....
pkropfli
Jul 6, 2012, 10:19 AM
In what country would this be....

us
ScottGem
Jul 6, 2012, 10:21 AM


I have never heard of this practice and seriously question it.
smoothy
Jul 6, 2012, 10:25 AM
Sounds almost like one of those payday loan shark places...