About 12 million Individuals take out payday loans every year, spending $9 billion on loan fees, in accordance with Pew Research. The whole operation is like an enormous chapter sale, the place Mr. Iglesias on behalf of the creditors and Mr. Tavares on behalf of the debtors, supervise the disposal of the collateral. Affirm is some extent-of-sale fee option for those new to credit and for big, one-time purchases.