The result of State Bans of Payday Lending on customer Credit Delinquencies

Abstract: “The financial obligation trap theory implicates payday advances as a factor exacerbating customers’ economic distress. Appropriately, limiting usage of payday advances is likely to reduce delinquencies on conventional credit services and products. We try out this implication associated with theory by analyzing delinquencies on revolving, retail, and installment credit in Georgia, new york, and Oregon. These states paid off …