Installment Credit in United States
Practical Information
Note: Some of this information was last updated in 1982
That form of credit that involves the repayment or amortization of an obligation by payments of fixed portions at regular intervals. Installment credit is granted as a loan of money or extended upon the sale of goods. When extended for consumer goods, the credit is known as consumer or retail installment credit; when extended for commercial or business use, the credit is known as productive or mercantile installment credit.
What is Installment Credit?
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