Categories
Payday Loans No Verification

New findings: teenagers would be the biggest users of pay day loans

New findings: teenagers would be the biggest users of pay day loans

Brand New figures show, that 63 percent of payday advances among young adults between your many years of 18 and 29 are applied for by males – and based on personal economist in Danske Bank, Louise Aggerstrom Hansen, that may be the start of a downward spiral that is financial. This is certainly among the reasons why confidence that is financial of this cornerstones within the bank’s societal impact strategy.

At Danske Bank, Emil Toft Hansen from Copenhagen University happens to be composing their company PhD thesis on financing habits of residents residing in Denmark. Regarding the this, he’s charted cash advance usage among around 20,000 Danske Bank clients. Their findings reveal that 40% of most pay day loans are applied for by teenagers involving the ages of 18 and 29, as well as in two away from three situations the borrower that is young a man.