Best personal loans united states

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Best personal loans united states

The result of this scheme. The borrowers paid much more than the stated cost of their loans. In a typical example, a person borrowed 300 with a stated one-time finance fee of 90.

The borrower expected that the loan would be repaid in a single withdrawal of 390. But the lender began a series of automatic withdrawals, assessing a 90 finance charge each time. By the last withdrawal, the borrower would have paid 975 instead of 390 to repay the loan.

Best personal loans united states

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Best personal loans united states