Archive by Category "payday loans riverside ca"

Abstract

Pay day loans are controversial high-cost, short-term borrowing products, prohibited in lots of U.S. states. But debates surrounding their advantages to consumers carry on. We determine the consequences of pay day loans on customers by utilizing a unique information set including 99% of loans authorized in the uk over a period that is two-year to credit files. Employing a regression discontinuity research design, our outcomes show that payday advances offer short-lived liquidity gains and encourage consumers to battle credit that is additional.