Sixteen states have actually essentially prohibited payday loan providers.

Sixteen states have actually essentially prohibited payday loan providers.

The 2013 Pew report additionally discovered that:

  • 58 percent of pay day loan borrowers have difficulty fulfilling month-to-month costs at least half the full time.
  • Only 14 % of borrowers are able to afford to repay a payday that is average from their monthly budgets.
  • The option to make use of pay day loans is mostly driven by impractical objectives and desperation. (más…)