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Pay day lending is changing, and never on the most useful Payday lenders are all the more embracing installment fund, with all America’s biggest pay-day lending companies today promoting the fresh new issues, according to a new study regarding Pew Charitable Trusts. Instead of demanding payment out-of financing contained in this months or weeks, these items was repayable over period. Towards the deal with from it, these money seems like a better offer to own borrowers due to the fact they give more time to settle the financial institution, and you will users will favor a fees commission construction, Pew found. Yet the base are caution your repayment finance carry many of the same hallmarks of the conventional payday loans, such as for example air-highest interest rates. And you can ...