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Report Says Kentucky Laws Could Put Installment Loan Borrowers At Risk

With the help of cash installment loans, you’ll be able to cover such expenses without any damage to your budget. After all, a $200 monthly payment for half a year is much easier to handle than a $1,200 repair bill due at once. If you ended up in a situation where you need a large amount of money, you probably didn’t have another choice. A pipe leak can damage the house, and the repairs won’t be cheap. And you need a working car to get to work and produce income.

You can apply online and get up to $5000 quickly. Statistics show that over 69 percent of the employed population in the United States applies for installment loans at least one time per year. The installment loans online are very effective and secure because most of the companies use the two-phase encryption for storing your personal data. After you have completed the repayment, all the data are deleted from the system.

Installment loans are financial products that let you borrow a fixed sum of money and pay it back slowly over time. Say you were to borrow $30,000 with a 10.99 percent APR and a 60-month repayment timeline. Find online Installment loans Kentucky direct lenders near me and follow through with the online application process.

Rashawn Mitchner is an associate editor at Bankrate, managing coverage of debt and personal, auto and home equity loans. This means you don’t have to worry at all about getting enough money straight away. Plus, those scheduled payments are way lower as they are long term.

We’d like to see continued transparency and enforcement to create safer choices for borrowers. For more information seeKentucky Payday Loan Laws. If a lender is unlicensed, they operating in Kentucky under the assumption they can export laws from their state or tribe into Kentucky.

The above is our understanding of how Kentucky installment lending works but we are not a law firm. Please contact theKentucky Office of Financial Institutionsfor more information. Doshound believes in transparent markets, fair regulations, and consumer choice. To the extent, the existence of tribal lenders provides more choice this is a good thing. The creation of the self-regulatingNative American Financial Services Association is also a good thing.

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