POLL: Two-thirds of cash advance users caught in period of financial obligation

Vancity among the first to provide loan alternative that is https://missouripaydayloans.org payday

Vancouver, B.C. – A poll released today by Vancity shows 67 percent of pay day loan users when you look at the Lower Mainland and better Victoria are borrowing many times a 12 months.

The credit union poll, that has been carried out by Insights West, suggests 35 percent took down an online payday loan when an or more month. Having a unexpected expense they didn’t anticipate (38 %) and getting behind on bills (37 percent) would be the major causes why borrowers stated they utilized payday advances. Another 22 percent stated it had been because that they had a financial obligation which was due. (more…)