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New findings: teenagers will be the biggest users of pay day loans

New findings: teenagers will be the biggest users of pay day loans

Brand brand brand New figures show, that 63 per cent of pay day loans among young adults between online installment FL your many years of 18 and 29 are applied for by guys – and relating to personal economist in Danske Bank, Louise AggerstrГёm Hansen, which can be the start of a downward economic spiral.

That is one of many reasons why confidence that is financial associated with the cornerstones into the bank’s societal impact strategy.

At Danske Bank, Emil Toft Hansen from Copenhagen University is composing their company PhD thesis on financing habits of residents staying in Denmark. Relating to this, he’s charted loan that is payday among around 20,000 Danske Bank clients. Their findings reveal that 40% of most pay day loans are applied for by teenagers involving the many years of 18 and 29, as well as in two away from three instances the borrower that is young a guy.

Relating to Louise AggerstrГёm, personal economist at Danske Bank, the truth that a lot of young adults are taking right out high-interest pay day loans is a challenge: