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'Think carefully before you sign': Mia lost her family home after taking on a small business loan with $100,000 interest (www.abc.net.au)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 3 months ago (1 children)

Hahahaha

No, the problem is people not reading the contracts they sign.

You're asking for idealism, assuming that we can prevent scumbags - that's not possible, and simply leads people to naively signing anything, and ending up like this story.

Trust, but verify.

Do you think contract lawyers exist solely to create docs? Or maybe to take the time to ensure contracts their clients sign achieve the intent of their clients?

Yes, scummy lender does scummy things, but it was right there in the contract - no one held a gun to her head to sign it. She voluntarily signed it without understanding it.

[–] [email protected] 1 points 3 months ago

She voluntarily signed it without understanding it

But maybe she thought she understood it