Infographic

Payday Loans and Tax Time

 

How do payday loan borrowers use their tax refund? Pew has shown that payday loans are used for long term expenses instead of emergencies, and that many payday borrowers end up paying off their balances with a cash windfall. How many borrowers pay off their loan with their tax refund?

Infographic: Payday Loans and Tax Time

 

Date:
April 3, 2013
Contact:
Mark Wolff | 202-540-6390
Project:
Safe Small-Dollar Loans Research Project
Issues:
Taxes, Consumer Financial Security
 
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