Pay day loan and pawnshop use: the effect of allowing loan that is payday

Pay day loan and pawnshop use: the effect of allowing loan that is payday

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Scores of US households count on pay day loans and pawnshops for short-term credit. Pay day loan interest levels are because high as 25% per 2- to 4-week loans and people work with a post-dated check to secure the mortgage. Pawnshop use is present for anybody with security. This short article examines whether individuals utilizing pay day loans in states where rollovers are permitted are more likely to additionally make use of pawnshops as well as pay day loans. Continue reading “Pay day loan and pawnshop use: the effect of allowing loan that is payday”