For Richer or Poorer : Demand for high interest wedding loans has quadrupled in the past year

Enjoy “your day.” You’ll be reminded of it every time the bill arrives in the mail.

Life in the Fed’s United States.

(From Zerohedge)

Demand for wedding loans has quadrupled in the past year, said David Green, chief product officer at Earnest, a San Francisco-based online lender, noting that couples spend approximately $16,000 on wedding loans and pay it off in three years. Interest rates range from 7% to 18%, is seen as a cheaper alternative to credit cards.

The explosive popularity of these loans, experts say, has been in the last three years, shows how the bride’s parents aren’t picking up the tab anymore, but more of a collective effort by parents, grandparents, and even the bride and groom.


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