Guide: the results of Payday Loan Regulation – Chapter 8
A notably unforeseen result of the FCA’s expense caps happens to be instalment loan growth. By distributing the re re re payments over almost a year, lenders can charge more in interest while staying underneath the limit. Just how do these instalment loans work, as well as in exactly just what methods do they change from payday advances?
Instalment Loan Growth Vs Pay Day Loan Decline
An instalment loan can last for more than a conventional cash advance and it is repaid in a number of instalments. (suite…)