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Payday Loans in Facts

PAYDAY LOANS IN FACTS 77 5,5 PERCENT OF ADULTS HAVE USED A 7 PAYDAY LOAN IN RECENT 5 YESRS IN USA! Usage of payday loans by geographic grouping WA NH ME MT ND VT MN OR MA Mid w West North East ID SD RI CT WY MI West 6% 3% PA 7% NJ NE DE OH UT IL IN MD CO DC CA KS VA MO KY NC TN AZ OK NM AR SC South 6% GA MS TX LA FL 2 7% urban Payday loan borrowing more common in cities! 71 FOR WHAT BOROWERS TAKE PAYDAY LOANS? Recurring expenses Unexpected emergencies Something special Other Dont know 10 20 30 140 50 160 What would happen if payday loans were unavailable? Cut back on expenses Delay paying some bills Borrow from family Sell own possessions Use a credit card MAIN CHARACTERISTICS OF THOSE WHO TAKE PAYDAY LOANS High school Renters Aged 25-29 Pews survey found that borrowers are 52% women and 55% white, 58% rent their homes, 85% do not have four-year cllege degree and 52% fall in the 25 to 44 age category. For more information please visit www.loanswire.com Married Non-parent Female Full-time employed. White (non-Hispanic) PAYDAY LOANS IN FACTS 77 5,5 PERCENT OF ADULTS HAVE USED A 7 PAYDAY LOAN IN RECENT 5 YESRS IN USA! Usage of payday loans by geographic grouping WA NH ME MT ND VT MN OR MA Mid w West North East ID SD RI CT WY MI West 6% 3% PA 7% NJ NE DE OH UT IL IN MD CO DC CA KS VA MO KY NC TN AZ OK NM AR SC South 6% GA MS TX LA FL 2 7% urban Payday loan borrowing more common in cities! 71 FOR WHAT BOROWERS TAKE PAYDAY LOANS? Recurring expenses Unexpected emergencies Something special Other Dont know 10 20 30 140 50 160 What would happen if payday loans were unavailable? Cut back on expenses Delay paying some bills Borrow from family Sell own possessions Use a credit card MAIN CHARACTERISTICS OF THOSE WHO TAKE PAYDAY LOANS High school Renters Aged 25-29 Pews survey found that borrowers are 52% women and 55% white, 58% rent their homes, 85% do not have four-year cllege degree and 52% fall in the 25 to 44 age category. For more information please visit www.loanswire.com Married Non-parent Female Full-time employed. White (non-Hispanic)

Payday Loans in Facts

shared by joanB on Apr 09
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some figures about payday loans, used pew's research of 2012 year in the USA

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