A lot of times we sign up for a furnace, air conditioner, or a new roof for home improvements.
The loans might be between $ 2,500 and $ 25,000.
Many have a low payments but you really take a hit the way they are structured, it is sold as inexpensive. Devil in the details. Finance companies can be same, a contract is legally enforceable and the SMALL print can trick you.
A serious issue is the amount of people who don’t realize that they signed giving permission to the company to put a LIEN against their house. I have heard hundreds of times that people did not know the loan was tied to the house. If your home gets refinanced at some point in the future, this will show up and you will be for forced to pay it and any penalties.