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Reasons for and consequences of taking out a payday loan in Great Britain 2013
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
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.
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 else | 53% |
| I regret taking out my payday loan | 48% |
| Overall my payday loan has made my financial situation worse | 42% |
| I took out a payday loan because it was easier than applying for credit elsewhere | 39% |
| Taking out a payday loan will make it harder for me to pay other bills next month | 35% |
| I took out a payday loan but couldn't pay it off, so had to get another one | 27% |
| I took out a payday loan but had to use my bank overdraft to make a payment on my payday loan | 17% |
| Overall my payday loan has had a positive impact on my finances | 13% |
| None of these | 5% |
| Respondents | |
|---|---|
| I took out a payday loan because I couldn't get credit anywhere else | 53% |
| I regret taking out my payday loan | 48% |
| Overall my payday loan has made my financial situation worse | 42% |
| I took out a payday loan because it was easier than applying for credit elsewhere | 39% |
| Taking out a payday loan will make it harder for me to pay other bills next month | 35% |
| I took out a payday loan but couldn't pay it off, so had to get another one | 27% |
| I took out a payday loan but had to use my bank overdraft to make a payment on my payday loan | 17% |
| Overall my payday loan has had a positive impact on my finances | 13% |
| None of these | 5% |
© Statista 2019
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Sources: ComRes; R3
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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.
- Sources
- ComRes; R3
- Show further sources information
- Show publisher information
- Release date
- July 2013
- Region
- United Kingdom (Great Britain)
- Survey time period
- May 31, 2013 to June 2, 2013
- Number of respondents
- 94 respondents
- Age group
- 18+
- Special properties
- all respondents who have taken out a payday loan
- Method of interview
- Online interview
Source
- Sources
- ComRes; R3
- Show further sources information
- Show publisher information
- Release date
- July 2013
More information
- Region
- United Kingdom (Great Britain)
- Survey time period
- May 31, 2013 to June 2, 2013
- Number of respondents
- 94 respondents
- Age group
- 18+
- Special properties
- all respondents who have taken out a payday loan
- Method of interview
- Online interview
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