This statistic shows the main reasons UK households have for taking out a payday loan over other types of loans in Great Britain in 2012. At 52 percent of respondents, the most common reason cited was that it was the only kind of credit they could get. The speed of obtaining the loan was a main reason for 35 percent.
Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012
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Statistics on Personal debt in the United Kingdom
Debt overview
5
- Premium Statistic Total value of household debt in the UK 2000-2021
- Premium Statistic Household debt to income ratio in the UK 2000-2022
- Premium Statistic Value of debt per adult in the United Kingdom 2010-2021
- Premium Statistic Average personal unsecured debt amount in the UK 2021, by type
- Premium Statistic Buy now, pay later (BNPL) monthly debt in the UK 2022, by age group
Lending overview
5
- Basic Statistic Gross new consumer lending in the United Kingdom (UK) 2007-2022
- Basic Statistic Gross new consumer lending in the United Kingdom (UK) 2007-2022, by type
- Basic Statistic Outstanding amounts of lending to individuals in the UK 2007-2022, by loan type
- Premium Statistic Share of adults with a personal loan UK 2020, by amount
- Basic Statistic Number of complaints about credit and loans in the UK 2021/2022, by type
Mortgage debt
4
- Basic Statistic Total repayments of loans secured on dwelling in the United Kingdom (UK) 2012-2022
- Premium Statistic Secured lending lump sum repayments in the UK 2012-2022
- Basic Statistic Secured lending regular repayments in the UK 2012-2022
- Premium Statistic Average value of mortgages granted in the UK Q1 2016-Q3 2022
Car loan debt
3
Credit card lending
4
- Premium Statistic Monthly number of credit card accounts in the UK 2012-2022
- Premium Statistic Quarterly gross lending on credit cards in the UK 2000-2022
- Premium Statistic Monthly value outstanding on credit cards in the UK 2018-2022
- Basic Statistic Annual growth rate of credit card lending in the UK 2010-2022
Student loan debt
3
Delinquency and insolvency
4
- Basic Statistic Loan write-offs by financial institutions in the UK 2013-2022, by currency
- Basic Statistic Personal loan write-offs by financial institutions in the UK 2017-2022, by loan type
- Premium Statistic Share of adults with personal loans making successful repayments UK 2020
- Premium Statistic Number of individual insolvencies in England and Wales 2019-2022, by type
Further related statistics
11
- Reasons for taking out a payday loan in Great Britain 2012
- Purpose for taking out a pawnbroker loan in the United Kingdom (UK) 2012
- High-cost credit: Consequences of using payday loans in Great Britain 2012
- Current debt worries among adults in Great Britain (UK) in 2014
- Financial situation of high-cost credit households in the Great Britain 2012
- Reasons for and consequences of taking out a payday loan in Great Britain 2013
- Consideration of own ability to repay when applying for loans China 2019
- Opinion of Americans towards regulation of payday loans in 2016
- Reasons for loan application rejections in Russia 2017
- Social renters use of quick loans in the United Kingdom (UK) 2012-2014, by age
- Value of lending to households in Romania 2015-2020
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Statistics
- Reasons for taking out a payday loan in Great Britain 2012
- Purpose for taking out a pawnbroker loan in the United Kingdom (UK) 2012
- High-cost credit: Consequences of using payday loans in Great Britain 2012
- Current debt worries among adults in Great Britain (UK) in 2014
- Financial situation of high-cost credit households in the Great Britain 2012
- Reasons for and consequences of taking out a payday loan in Great Britain 2013
- Consideration of own ability to repay when applying for loans China 2019
- Opinion of Americans towards regulation of payday loans in 2016
- Reasons for loan application rejections in Russia 2017
- Social renters use of quick loans in the United Kingdom (UK) 2012-2014, by age
- Value of lending to households in Romania 2015-2020
Department for Business, Innovation and Skills. (June 20, 2013). Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012 [Graph]. In Statista. Retrieved February 06, 2023, from https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/
Department for Business, Innovation and Skills. "Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012." Chart. June 20, 2013. Statista. Accessed February 06, 2023. https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/
Department for Business, Innovation and Skills. (2013). Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012. Statista. Statista Inc.. Accessed: February 06, 2023. https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/
Department for Business, Innovation and Skills. "Main Reasons Why People Decide to Take out a Payday Loan over Other Types of Loans in Great Britain in 2012." Statista, Statista Inc., 20 Jun 2013, https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/
Department for Business, Innovation and Skills, Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012 Statista, https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/ (last visited February 06, 2023)
Main reasons why people decide to take out a payday loan over other types of loans in Great Britain in 2012 [Graph], Department for Business, Innovation and Skills, June 20, 2013. [Online]. Available: https://www.statista.com/statistics/293602/reasons-why-households-take-out-payday-loans-in-the-united-kingdom/