We find consumers make an application for cash advance when they have minimal usage of main-stream borrowing
Appropriately, limiting accessibility pay day loan would-be likely to remove delinquencies on the traditional credit issues. I try this implication of one’s hypothesis because of the checking out delinquencies for the rotating, shopping, and you may repayment borrowing from the bank for the Georgia, Vermont, and you can Oregon. Continue reading “Abstract: “The debt pitfall hypothesis implicates payday loans because the something exacerbating consumers’ economic distress”