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Pay day loan use wasn’t limited to low-income Canadians.

Pay day loan use wasn’t limited to low-income Canadians.

Our study suggests that while payday advances are mainly employed by individuals with low-to-moderate incomes (a lot more than half lived in households with yearly incomes under $55,000) most canadians that are higher-income reported accessing these loans. Twenty % of participants reported domestic incomes surpassing $80,000 Footnote 3 , with seven percentage over $120,000.