Predatory Lending — When the loan is the trap.

TILA, BSP Circular 1048, Consumer Act protections — and what predatory contracts ignore.

Top 3 facts you should know:
1. Daily interest of 0.8% is not 0.8% per year — it's ~292% APR.
2. All fees must be itemized in writing before signing.
3. A loan contract you can't keep a copy of is non-compliant.

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