There’s been a whole lot of chatter about the danger of pay day loans recently, but “safer” installment loans could be just like dangerous, a report that is new.
There’s been a great deal of chatter in regards to the danger of payday advances recently, prompted by a unique report through the customer Financial Protection Bureau that called them “a long-lasting, high priced financial obligation burden. ” But there’s another, fast-growing category of little, short-term loans pitched mostly to low-income People in america — and also the unbanked in particular — that may be just like dangerous. ProPublica and market teamed up for an in-depth look at installment loans, and uncovered a dark side as to what a market spokesman termed “the best kind of credit rating available to you. Read more →