Payday Loan Stats: Essential Insights Revealed
Essential Points Usage Trends: Recent data indicates a significant increase in payday loan usage among lower-income individuals and younger borrowers. Demographics: Most payday loan users are aged 25-44 and often come from low-to-moderate income backgrounds. Loan Purpose: Approximately 70% of payday loan borrowers use loans for essential expenses like rent and utilities. Economic Impact: Payday […]