A national nonprofit organization, Family Agriculture Resource Management Services (F.A.R.M.S.), has introduced a free artificial intelligence tool called LoanGuard to help property owners and non-farming individuals detect predatory lending practices in loan agreements. The tool, accessible at loan-scan.com, instantly scans uploaded loan documents for harmful clauses, excessive interest rates, and unfair penalties that are often buried in complex legal language.
Jillian Hishaw, Esq., founder and director of F.A.R.M.S. and a licensed bankruptcy attorney with over 20 years of experience, emphasized the widespread impact of predatory lending. "Many of my clients have lost generational wealth due to hidden predatory terms in loan agreements they didn't fully understand," she stated. According to a recent U.S. Federal Trade Commission report, borrowers are charged nearly $3 billion annually in fees for predatory loans such as payday, car-title, and high-cost installment loans.
LoanGuard operates through a straightforward process: users upload their loan documents to the secure website, the AI system immediately scans for numerous known predatory terms and conditions, and users receive a comprehensive report highlighting potential risks. If concerning terms are detected, the tool provides free access to educational resources. Hishaw noted a recent case where a bankruptcy client had a personal loan with a 249% interest rate, underscoring the tool's utility for those seeking personal loans without exorbitant rates.
Over its nearly 13-year history, F.A.R.M.S. has saved $25 million in property assets by litigating against predatory lenders and utilizing estate planning methods. The launch of LoanGuard represents a proactive shift toward prevention rather than costly litigation. The service is completely free, reflecting the organization's commitment to equipping underserved communities with knowledge to combat unfair lending practices. The site also includes a current news feed on predatory lending topics and suggestions for lenders offering better terms.
F.A.R.M.S., which operates nationally and assists not only farmers but the general public, has a track record of protecting assets through legal action and education. For more information about the organization, visit 30000acres.org. Additionally, a free quiz to assess personal debt and estate planning is available at generationalfinancialwealth.com, offering a 10% discount on drafting wills and power of attorney documents for under $200.
