Professor of Law, Vanderbilt University
Ph.D. Scholar in Law and Economics, Vanderbilt University
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Installment loans look like a kinder, gentler type of their вЂњpredatoryвЂќ relative, the cash advance. But also for customers, they may be much more harmful.
Utilization of the installment loan, by which a customer borrows a swelling amount and will pay straight right right straight back the key and fascination with a variety of regular re re payments, has exploded significantly as regulators begun to rein in payday financing.