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Many people know the dangers of payday loans. But “installment loans” also have sky-high rates and work by getting borrowers — usually poor — to renew over and over. We take you inside one of the biggest installment lenders, billion-dollar World Finance. This story was co-produced with Marketplace. Listen to their coverage. One day late last year, Katrina Sutton stood at a gas pump outside Atlanta and swiped her debit card. Insufficient funds. But that couldn't be.
An installment loan is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. The term of.
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- Sure enough, less than four months after taking out the initial loan, Sutton agreed to renew. In a basic renewal (the company calls it either a 'new loan' or a.
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Illinois Compiled Statutes Table of Contents. (205 ILCS 670/2) (from Ch. 17, par. 5402) Sec. 2. Application; fees; positive net worth.
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