Guide: the results of Payday Loan Regulation – Chapter 8
A consequence that is somewhat unexpected of FCA’s price caps happens to be instalment loan development. By distributing the re re re payments over almost a year, loan providers can charge more in interest while staying underneath the limit. Just how do these instalment loans work, plus in just exactly what methods do they change from pay day loans?
Instalment Loan Growth Vs Cash Advance Decline
An instalment loan can last for longer than a conventional cash advance and it is paid back in lot of instalments. Keep reading