The Payday Loan Debt Cycle

Debt Trap

Special thanks to PHOCUSED for compiling the research for this infographic

Learn more about the importance of a 36% APR cap here.


Payday Lending in America: Who Borrows, Where They Borrow, and Why, The Pew Charitable Trusts

Payday Loans, Inc: Short on Credit, Long On Debt, Center for Responsible Lending

Phantom Demand: Short-term Due Date Generates Need for Repeat Payday Loans, Accounting for 76% of Total Volume, Center for Responsible Lending

Payday Loans and Deposit Advance Products: A White Paper of the Initial Findings, Consumer Financial Protection Bureau (key findings available here)