Londoners Rely on Payday Loans
Written on 15 Sep, 2011 at 06:47 by Ulyana Chernyak
A recent report published by a provider of payday loans revealed that those are Londoners who spend their wages the quickest and rely on payday loans; in particular, those are middle earners who apply for this type of loans most often.
The research was based on the analysis of the behaviour of 75,000 people, who applied for a payday loan since March 2011. It showed that Londoners are followed by those living in Manchester, Birmingham, Leeds, and Liverpool. Then come people from Scotland, living in Glasgow and Edinburgh.
Commenting on the findings, Giles Coutts, one of the authors of the research, said he thinks "there’s a common misconception that it is only low earners or those from poverty-stricken areas that have a need for instant loans, but that couldn’t be further from the truth."
He also highlighted that payday loans are a great way to deal with unexpected expenditures.
Most popular searches: personal loans
Leave a Reply