The rise of payday financing in the united kingdom

The rise of payday financing in the united kingdom

Quotes for the size of this lending that is payday in the united kingdom differ based on meaning and repository. Beddows and McAteer estimated that the total amount of credit extended via payday advances had increased ten-fold from £0.33 billion to £3.709 billion, using their meaning including ‘traditional pay day loans and short-term money advances’ (Beddows and McAteer: 7) as shown in Figure 1 )

Level of credit extended via payday advances (ВЈ billions)

Your competition and areas Authority (CMA) projected that, there have been 1.8 million cash advance clients when you look at the UK, taking right out around 10.2 million loans well worth ВЈ2.8 billion. Weiterlesen