What exactly is an Installment Loan? Would a pay day loan by some other name expense just as much?

What exactly is an Installment Loan? Would a pay day loan by some other name expense just as much?

That’s the relevant concern installment loans raise. Like payday advances, installment loans are marketed to cash-strapped people who require a little loan to bridge money space or protect an urgent situation cost. Additionally like payday advances, their effective interest levels in many cases are greater than their advertised interest levels.

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