Payday Lending in the us FAST SUMMARY A payday loan can look like a way to avoid asking loved ones for help or getting into long-term debt for someone in need of quick cash. However these loans frequently prove unaffordable, making borrowers with debt for on average five months. This report—the second in Pew’s Payday Lending in America series—answers questions regarding why borrowers choose payday advances, the way they eventually repay the loans,.. Read More