Reasons for and consequences of taking out a payday loan in Great Britain 2013

Those who have taken out a payday loan in the past six months, which of the following apply to you?

by Statista Research Department, last edited Jul 1, 2013
Reasons for and consequences of taking out a payday loan in Great Britain 2013 This statistic shows the reasons for and the consequences of taking out a payday loan, as reported by respondents in a survey of adults in Great Britain in 2013. Of the 94 respondents that had taken out such a loan, 48 said that they regret taking out a payday loan and 35 percent said that taking out a payday loan would make it harder to pay other bills next month.
Show more

Those who have taken out a payday loan in the past six months, which of the following apply to you?

Loading statistic...
Respondents
I took out a payday loan because I couldn't get credit anywhere else53%
I regret taking out my payday loan48%
Overall my payday loan has made my financial situation worse42%
I took out a payday loan because it was easier than applying for credit elsewhere39%
Taking out a payday loan will make it harder for me to pay other bills next month35%
I took out a payday loan but couldn't pay it off, so had to get another one27%
I took out a payday loan but had to use my bank overdraft to make a payment on my payday loan17%
Overall my payday loan has had a positive impact on my finances13%
None of these 5%
Respondents
I took out a payday loan because I couldn't get credit anywhere else53%
I regret taking out my payday loan48%
Overall my payday loan has made my financial situation worse42%
I took out a payday loan because it was easier than applying for credit elsewhere39%
Taking out a payday loan will make it harder for me to pay other bills next month35%
I took out a payday loan but couldn't pay it off, so had to get another one27%
I took out a payday loan but had to use my bank overdraft to make a payment on my payday loan17%
Overall my payday loan has had a positive impact on my finances13%
None of these 5%
Download Settings Share
Download started
Please be patient - this may take a moment
by Statista Research Department, last edited Jul 1, 2013
This statistic shows the reasons for and the consequences of taking out a payday loan, as reported by respondents in a survey of adults in Great Britain in 2013. Of the 94 respondents that had taken out such a loan, 48 said that they regret taking out a payday loan and 35 percent said that taking out a payday loan would make it harder to pay other bills next month.
Show more
Statista Accounts: Access All Statistics. Starting from $588 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Premium Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.
Leading companies trust Statista:
paypalgoogleadobepgsamsungtelekom
Statista is a great source of knowledge, and pretty helpful to manage the daily work.
Christof Baron

Christof Baron
CEO, MindShare Germany

Statistics on "Personal debt in the United Kingdom"
  • Personal debt
The most important statistics
  • Loans and debt of social groups
  • Amounts owed by social groups
  • Household income and household debt
  • Bankruptcy
Discover Statista
Need help with using Statista for your research? Tutorials and first steps
Further Content: Statistics, Studies, and Topic Pages
Learn more about how Statista can support your business.
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.