Figure 1: Respondent generation

As shown in Figure 1, 72 % of respondents had been between 25 and 54 years old. Eighty-three per cent lived within an metropolitan area, and 55 per cent rented their house (while 32 per cent owned a property with a home loan and nine percent owned one without a home loan. )

More participants had incomes that are low-to-moderate.

Figure 2: Domestic earnings

As shown in Figure 2, over 50 per cent lived in households with yearly incomes under $55,000, and over 70 percent lived in households with incomes under $80,000. Nonetheless, 20 per cent reported home incomes surpassing $80,000, with seven % over $120,000, demonstrating that cash advance use just isn’t limited to low-income Canadians. Footnote 11

This demographic information [...]

Western Circle Limited, the business behind popular British lending sites Cashfloat.co.uk and PersonalLoansNow.co.uk, has released an innovative new app called ‘Credit on Demand’, built to assist customers in britain migrate from costly pay day loans to less expensive signature loans.

This pr release features multimedia. View the full launch here

The brand new Credit on Demand software allows customers to borrow between ?1,000 and ?25,000 employing their cellular phone (picture: Business Wire)

“We’ve found that two key features draw customers towards pay day loans. Firstly, greater acceptance prices that allow also individuals with extremely credit that is poor apply. Next, fast funding times that permit cash to attain customers’ accounts, often within a few minutes of using. Nevertheless, we’ve noticed a growing dependency on payday advances as users figure out how to count in it every month, making them nearly addictive.