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Miscellaneous

What is a predatory loan?


4 Answers

Loans that are targeted toward poor people who are desperate. They contain high fees and interest rates.

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Loans that are unfair, where the lender receive unscrupulous conditions such as high fees, higher interest rates

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Predatory differs based on region. But it is a loan with generally over 36 percent interest, in the USA. This is essentially a money maker for the lender and keeps consumers coming back poorer. It's equivalent to modern day indentured servitude.

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