High-Cost Installment Loans Push Borrowers Deeper in Debt
CRL: 85 percent of survey respondents suffer negative consequences from larger, longer-term loans with triple-digit interest WASHINGTON, DC – High-cost installment loans, taking a rising share of the lending market over the past decade, often compound borrowers’ financial problems, according to new research released today by the Center for Responsible Lending. The report, “ Unsafe Harbor: The Persistent Harms of...