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A brand new style of credit is saddling America’s class that is middle $50 billion with debt

A brand new style of credit is saddling America’s class that is middle $50 billion with debt

Struggling to pay for bills, middle-class Americans are becoming exploited with a kind that is new of called the internet installment loan.

The “red-hot industry” has spawned about $50 billion in debt in a practice that handcuffs borrowers with regards to 40-60 months and interest levels up to 155 per cent, relating to Bloomberg.