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Consumer credit site to launch at ABA meeting

National Mortgage Professional
Mar 24, 2014

Consumer credit site to launch at ABA meetingMortgagePress.comAmerican Bar Association, SafeBorrowing.com, Consumer Financial Services

The American Bar Association Section of Business Law has launched its SafeBorrowing.com site at its spring meeting in an effort to increase financial literacy.

A creation of the sections Consumer Financial Services Committee, SafeBorrowing.com offers free information online to help borrowers better understand the risks and obligations of using consumer credit. The site is developed to include content crossing the credit card, home financing, student loan and automobile lending industries, creating a comprehensive, single-source site.

When you sign a contract to take out a loan, what you dont know absolutely can hurt you. Borrowers must know their rights and responsibilities under the law, said ABA President William H. Neukom. SafeBorrowing.com has outstanding resources to help people protect their finances and their credit.

From providing tips to avoid a foreclosure rescue scheme to deciphering credit card disclosures to explaining the types of federal student loans available, SafeBorrowing.com aims to give consumers the tools necessary to make wise financial decisions, said Donald Lampe, chair of the sections Consumer Financial Services Committee.

Additional site features include a glossary of terms at the end of each section, helpful points to consider and links to other resources.

For more information, visit www.safeborrowing.com.