The cost that is high of makes Delaware residents very likely to belong to a financial obligation trap.

Licensed Lenders in Delaware have to cap short-term installment loans at $1,000. They are loans of not as much as 60 days which are “not guaranteed by name to an automobile.” Nonetheless, the state will not regulate APRs. Finalized rates are negotiable and determined by the lending company as well as the debtor. In 2012, Delaware’s state legislature passed home Bill 289, which increased...
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