Level of credit extended via payday advances (ВЈ billions)

Level of credit extended via payday advances (ВЈ billions)

Your competition and areas Authority (CMA) (2014) calculated that, in 2012, there have been 1.8 million cash advance customers into the UK, taking out fully about 10.2 million loans well worth ВЈ2.8 billion. These numbers are less than the numbers from Beddows and McAteer (2014) because of various definitions and information sources, nevertheless the CMA noted that their numbers for 2012 express a 35 to 50 percent enhance regarding the preceding monetary 12 months. Therefore while exact figures differ, there’s no question that payday lending expanded phenomenally between 2006 and 2012. (meer…)

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