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Reasons why households take out payday loans in the United Kingdom 2012

Published by Statista Research Department, Jun 20, 2013
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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Sources

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Release date

June 2013

Region

United Kingdom (Great Britain)

Survey time period

2012

Number of respondents

101 respondents

Age group

18 years and older

Method of interview

Online survey

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Statistics on " Personal debt in the United Kingdom "

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Statistics on Personal debt in the United Kingdom

Debt overview

5

Lending overview

5

Mortgage debt

4

Car loan debt

3

Credit card lending

4

Student loan debt

3

Delinquency and insolvency

4

Further related statistics

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Cost of living crisis UKEarnings and wages in the UKCost of living in the United StatesInflation in EuropeThe UK economy
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