POLL: Two-thirds of pay day loan users caught in period of financial obligation

POLL: <a href="https://paydayloansindiana.org/">payday loans locations</a> Two-thirds of pay day loan users caught in period of financial obligation

Vancity among the first to supply cash advance alternative

Vancouver, B.C. – A poll released today by Vancity suggests 67 % of pay day loan users when you look at the Lower Mainland and Greater Victoria are borrowing times that are several year.

The credit union poll, that was carried out by Insights West, suggests 35 % took away an online payday loan as soon as a thirty days or even more. Having a unexpected cost they didn’t anticipate (38 percent) and getting behind on bills (37 per cent) would be the major causes why borrowers stated they utilized pay day loans.

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