Some groups of people installment loans in connecticut are particularly likely targets for predatory lenders although predatory loans can affect anyone. They consist of:
- Subprime Borrowers. Subprime borrowers are the ones with dismal credit scores – typically lower than 630 – and incomes that are low. As noted above, predatory loan providers often deliberately follow these borrowers so that they can charge them greater interest.
- Low-Income Families. Low-income families often find yourself having to pay more for loans no matter if their credit is great.