The installment loan comes with legal recourse for the lender unlike title loans.

The installment loan comes with legal recourse for the lender unlike title loans.

A loan provider can visit court and get a judgement from the debtor over nonpayment, whereas with a name loan, the only recourse is to repossess the automobile and aspire to result in the money-back.

Charles Lee for the Mississippi Center for Justice stated the installment loan is not any better for a customer than a quick payday loan or perhaps a name loan simply because it allows a longer payback period.Continue reading