Victims of Predatory Lending

July 6, 2020 by  
Filed under Installment Loans Ar

Victims of Predatory Lending

Some groups of people are particularly likely targets for predatory lenders although predatory loans can affect anyone. They consist of:

  • Subprime Borrowers. Subprime borrowers are the ones with woeful credit scores – typically lower than 630 – and incomes that are low. As noted above, predatory loan providers often deliberately pursue these borrowers for them to charge them greater interest.
  • Low-Income Families. Low-income families often wind up having to pay more for loans regardless of if their credit is great. Read more