As bad as payday loans are, installment loans are worse.
I know someone who had 5 or 6 of them, at an AVERAGE interest rate of around 700%. They’d paid on one of them for something like 6 months and had paid less than $5 of the principal down. Like a mortgage, all the interest was paid up front.
SHIVA about 3 years ago
Well, there’s not much Clare can give up!!!
BaconBoyCamper about 3 years ago
Love the captions on the signage…
BWR about 3 years ago
As bad as payday loans are, installment loans are worse.
I know someone who had 5 or 6 of them, at an AVERAGE interest rate of around 700%. They’d paid on one of them for something like 6 months and had paid less than $5 of the principal down. Like a mortgage, all the interest was paid up front.