"Payday borrowers" refers to people who borrow money from payday lenders, which are companies that provide short-term loans with high interest rates. These borrowers often need the money urgently and may not have access to traditional credit options. However, they typically have to repay the loan by their next payday, which can be challenging for some individuals.
Full definition
Synonyms for individual words can be found below.
«payday»
«borrowers»
Sentences with «payday borrowers»
- Yet most payday borrowers end up paying triple - digit interest rates and high fees, which only make a bad financial situation worse. (americu.org)
- It is not uncommon for payday borrowers to pay fees and charges that are greater than the original loan amount. (creditsesame.com)
- As we said, many payday borrowers are already bank customers with checking accounts, so banks already have a relationship with them. (policygenius.com)
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