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payday loans without checking account in memphis tn

Exactly Just Just How Borrowers Select and Repay Pay Day Loans

Exactly Just Just How Borrowers Select and Repay Pay Day Loans

Payday Lending in the us

A payday loan can look like a way to avoid asking loved ones for help or getting into long-term debt for someone in need of quick cash. However these loans frequently prove unaffordable, making borrowers with debt for on average five months.

This report—the second in Pew’s Payday Lending in America series—answers questions regarding why borrowers choose pay day loans, the way they eventually repay the loans, and exactly how they experience their experiences.