I know what loans are but what makes them so much worse?
Edit: thank you everyone for Answering! I think I got it now 🙂
In: 32
It’s a short-term loan with a high interest rate.
It’s hated because of the high interest rate, and because it’s marketed at people who can’t get loans or credit from most other sources because those other sources know they have a high probability of not being able to pay it back. While those sources are refusing the loans/credit for their own self-interest, it’s also not in the interest of the person asking to get a loan they can’t pay back.
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