Sunday, August 2, 2015

The average profile of the customers opt for a payday loan cash advance - Payday loans are loans taken by a small amount for a short period. Payday loans are to be paid on the next payday usually means.

Payday loan lenders to pay thousands of dollars per week to people in urgent money. The Association of Community Financial Services of America, extending payday loans cash advance industry to about 25 million.

The payday loan is often regarded as something predatory and it is the common belief that payday customers used as feed hungry by payday lenders money. However, more research in recent years carried out to contradict the view that payday loans are predatory and the borrower remains prey. In fact, recent studies have borrowers prefer payday loans to the alternatives presented.

The large annual percentage rate (APR) in the range of 391% and more frequently, it is fascinating that people who opt for these loans. But studies have been conducted in the United, show that people from all walks of life consider payday loans cash advance as an affordable way to meet their financial needs.

The 2000 census report showed that 22% of borrowers of payday respondents have a university degree, a degree. More than two-thirds of respondents reported an annual income of at least $ 25,555 and has a savings account. In addition, 51% of the population surveyed had a savings plan for retirement.

View the status of the industry, it appears that advance customer payment means more education than the general population of the United States.

A typical client payday loans is between 25 to 40 years and has an annual income of between $ 25,000 and $ 50,000. Also, people from all walks of life, including teachers, officials and employees of the Company consider payday loans as an effective solution for short-term financial emergencies.

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