By Paige Marta Skiba and Caroline Malone

Installment loans look like a kinder, gentler form of their “predatory” relative, the cash advance. However for customers, they might be much more harmful.

Utilization of the installment loan, for which a customer borrows a swelling amount and pays straight straight back the main and fascination with a number of regular re re payments, is continuing to grow considerably since 2013 as regulators started to rein in payday financing. In reality, payday loan providers seem to are suffering from installment loans mainly to evade this increased scrutiny. Continua a leggere