In addition, 46 % of those who used a payday loan in the past 12 months agree they did so because it made it easier to keep up with their debt repayments. (hoyes.com)
Consumers typically use payday loans for financial emergencies such as monthly rent, utility or car payments. (debt.org)
This lending product is commonly targeted at low - income consumers who use payday loans as plugs that will keep the ship afloat temporarily. (lendedu.com)