However, this group makes up 25 of all payday loan users. About 13 of separated and divorced adults have taken out a payday loan in the last five years. One stop money shop loans lenders often market their products as short-term fixes for emergency needs, such as car repairs or medical bills. But according to the Pew survey, most users dont use them that way. Nearly 70 of first-time borrowers say they took out their loans to help pay for basic needs, such as rent, food, utilities, or credit card bills.
Only 16 say they borrowed the money for an unplanned, one-time expense. When Pew asked people what they would do if they couldnt use payday loans, they gave a variety of answers. More than 80 said they would cut back on basic expenses, such as food and clothing.
More than half also said they would pawn something or borrow from friends and family. However, most users did not say they would use credit cards or take out bank loans possibly because many dont have good enough credit to qualify.
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Fax these documents to 086 5921 525 or mail to infonationallonas. What documents do One stop money shop loans need.
A clear copy of South African ID Document (Your face must be clearly visible) 3 months bank statements (showing at least 3 salary deposits) Latest pay slip (Your official payslip with employer information) Being blacklisted does not exclude you. Being blacklisted does not automatically exclude you from a loan, but you should try and resolve your credit rating as quickly as possible. Our National Branch: Tel: 079 012 9867| Fax: 086 5921 525 | Email: infonationalloans.
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Unlike payday loan agencies, at Spotloan you are able to pay us back over months, not weeks. Take as long as 10 months or pay us sooner and save on interest, it's up to you. CAN HELP WITH EXPENSES LIKE. Hospital Bills. Car Emergencies. Utility Expenses.