Each year around 12 million employees take out a payday loan. The typical yearly income of these workers is $30,000. With your data in your mind, it is easy to understand that the workers whom need this crisis cash would be the people who will be frequently struggling most difficult to pay for it back вЂ” in fact, predatory loan providers have already been recognized to target them particularly. It's time for you to take into account the generation that is new pay day loans and exactly why they are simply as dangerous.
As technology will continue to disrupt a few sectors of our day-to-day life, Silicon Valley has arrived to disrupt and rebrand pay day loans.