Category: Online Loans

Young People Are Payday Lenders’ Newest Prey

According to data for 2021, the debt of Americans on payday loans increased by 10% and reached 188 billion. The volume of short-term loans fell by almost 10%, and medium-term loans increased by about 5%. Along with the change in the structure of debts, the portrait of the borrower also changes. Young people become a…

History of Payday Loans – Why They Appear?

Microcredits appeared at the end of the XX century. They were invented by Muhammad Yunus, a native of Bangladesh. In 1983, he opened a bank where people could take out a small loan to start their business. Thus Yunus sought to overcome poverty. The bank did not require written confirmation that the borrower would be…