Chicago Reader Activists state payday loan providers exploit poor people, but better borrowing choices are difficult to find
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It is a word that is dirty, but subprimeвЂ”as into the questionable lending methods blamed for the present economic crisisвЂ”entails, many merely, expanding credit to people who do not usually have use of it. Those who have low credit ratings or no credit score are subprime borrowers; usually so might be blacks and Latinos, whom might find it more straightforward to access credit outside of conventional financial institutions.
The industry is composed of both the earnest additionally the periodically deviousвЂ”the credit union additionally the pawnshop.
Subprime loan providers are the corner that is ubiquitous providing check cashing, taxation reimbursement loans, car name loans, and payday advances.