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What Exactly Is Predatory Lending?

What Exactly Is Predatory Lending?

Predatory loans are consumer loans targeted at low-income Us citizens who’re difficult up for money, and they are charged ultra-high interest levels, charges and penalty costs to get the predatory loan.

Predatory loans are marketed to customers whom really do not have loan that is legitimate, and whom ultimately crank up having a predatory loan with impractical paydown terms, sky-high rates of interest, and mounting costs and penalty-based fees.

Predatory loans, by and large, put up borrowers for failure.