Payday Loans

Sometimes it seems like a payday loan is all you need to solve your financial problems. But what happens when it’s time to repay the loan, but you can’t afford to repay it? On average, 20% of payday loan borrowers can’t afford to repay the loans. Here’s what to expect if you default on your […]

This page contains statistics about the state of payday lending in the United States, curated by our editorial team. We will continue to add and update statistics as new data becomes available. 12 million Americans use payday loans each year. As of 2021, there were more than 23,000 payday loan storefronts in the United States

Surprisingly, yes. It turns out unemployed people can indeed apply and qualify for payday loans. But despite this, it’s not all good news. Payday loans come with a huge caveat (spoiler: they are expensive) that could ultimately prove to be your biggest financial undoing. The most important question to ask yourself before you take out

Suddenly laid off, hit with a significant household expense, short on rent, or saddled with a medical emergency, and don’t have enough cash to cover the costs? We’ve all felt that panic and desperation. Some people are lucky to have access to many different loan options to bridge this gap; others don’t have to turn

Are you facing a financial crisis and considering taking out a payday loan? And have you been wondering why so many people think these loans are a terrible idea? And what does “payday loan debt trap” mean, anyway? You’re in the right place. In this guide, we’ll explain what a payday loan is, what risks

If you’re stuck in the payday loan debt trap, it may feel like you don’t have any options. What happens if you don’t have the money to repay your payday loan on the due date? Can you get an extension? What Can I Do If I Can’t Repay My Payday Loan? Payday lenders are fully

Have you ever done the math to see how long you could pay your bills without bringing in any money? For most Americans, the answer is less than a month. In 2020, 70% of the respondents in a survey stated that they would have difficulty keeping up with their financial responsibilities if they had to

If you’re looking for a loan and trying to research Inbox Loan, you’d best look elsewhere. They’re no longer issuing loans. If you’re an existing Inbox Loan customer or are looking for information on inboxloan.net, read on. What Was Inbox Loan? Inbox Loan was a short-term, small-balance, high-interest installment lender that operates online. They work