How Do Pay Day Loans Affect Borrowers? Proof through the U.K. Market

How Do Pay Day Loans Affect Borrowers? Proof through the U.K. Market Abstract Payday advances are controversial high-cost, short-term financial products, prohibited in a lot of U.S. states. But debates surrounding their advantageous assets to consumers continue. We assess the consequences of payday advances on customers by utilizing a unique information set including 99% of…