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Doorstep loans often have very high fees and interest rates, which can make them hard to pay back. So, for example, if your credit limit is $10,000, you should aim to use no more than $3,000 of that credit.
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Overall, installment loans can be a useful financial tool for those who need to borrow a large sum of money and want to pay it back over a longer period of time. That makes it easier for people who might have trouble getting approved for other types of loans.