What is a predatory loan?
Loans that are targeted toward poor people who are desperate. They contain high fees and interest rates.
Loans that are unfair, where the lender receive unscrupulous conditions such as high fees, higher interest rates
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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