Category Archives: Florida Online Payday Loans

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The consequence of Payday Loan Bans on Other Alternative Financial Services Credit Products

The consequence of Payday Loan Bans on Other Alternative Financial Services Credit Products

If other AFS credit products are substitutes for payday advances, we might expect that people whom used loans that are payday change to utilizing one of these after payday advances are prohibited. But, if these other styles of high-interest credit are complements to payday loans—for example, if pay day loan clients sign up for a pawnshop loan in order to prevent defaulting regarding the initial loan as recommended in Carter (2015)—then we might be prepared to see a decrease in the usage of pawnshops and rent-to-own solutions.

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