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loans and lending

Banks and credit unions are two of the most common sources of consumer and business loans. These loans may be secured or unsecured, and may take the form of home mortgages, home equity loans, installment loans (loans repaid in monthly installments), auto loans, student loans, and credit cards.

In Georgia, banks and credit unions are regulated entities that provide various types of loans to consumers and businesses. Secured loans require collateral, such as property or assets, to back the loan, while unsecured loans do not. Home mortgages and home equity loans are secured by the property itself. Installment loans, such as personal loans, are repaid over time with set monthly payments and can be either secured or unsecured. Auto loans are typically secured by the vehicle being purchased. Student loans can be federal or private, with federal loans offering more flexible repayment options and protections. Credit cards represent revolving lines of credit and are generally unsecured. The terms and availability of these loans are governed by both state statutes and federal law, including the Georgia Industrial Loan Act and federal regulations like the Truth in Lending Act (TILA), which requires lenders to disclose credit terms to consumers. Consumers are protected under these laws from predatory lending practices and have the right to receive clear information about their loans.

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Creditor / Debtor

loans and lending

Individual & Family Legal Plan

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Georgia State Code

Georgia State Code

Creditor / Debtor

loans and lending

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