It wasn’t all that long ago that that when people wanted to borrow money, their options were limited to either the local bank, or good friends and family. Things began to change gradually about fifty years ago when banks discovered that there were large profits to be made from lending money in the form of personal loans.

Sadly, things began to get out of hand and banks gradually become far too liberal when lending money. As a result, the new form of liberal banking led to the sub-prime mortgage collapse of 2008, from which the United States is now beginning to recover.

http://www.unitedfinances.com/installment-loans/