Middle-aged and older people as clients of loan companies
What is our idea of a typical loan company client? Most often we associate him with an uneducated person, unable to manage his money wisely, sometimes unemployed or simply not ambitious. When it comes to age issues, we would rather indicate middle-aged and older peopleas clients of loan companies – certainly not young. The media additionally promote the image of the borrower as an extremely indebted person. However, the Ipsos report shows that these ideas are unrelated to reality.
Who are the clients of loan companies?
Research leaves no doubt – loans are increasingly used by young people. 37 percent of respondents are people aged 20-30, while another 26% are persons under the age of 40. This means that older and middle-aged people are a minority. Women still decide to take out loans – women constitute 52 percent. all borrowers. Place of residence also affects interest in loans. 27 percent respondents live in the countryside, but a significant proportion of all those benefiting from loans are residents of small towns with a population of up to 100,000 – as much as 41 percent. all borrowers. The rest are residents of larger centers, 5 percent. are persons permanently resident in Warsaw.
Are only the poorest taking loans?
The borrower’s professional and financial status stereotype holds the strongest. We still believe that payday loans are for uneducated and low earners, and often even the unemployed. Also in this case, research shows something different.
Only 27 per cent have lower secondary education. respondents, and 24 percent of them can boast of higher education – undergraduate or graduate. Nothing confirms the belief that the clients of loan companies are the unemployed – in fact they account for only 11 percent. all people using loans. Most, as much as 73 percent he works, of which 63 percent are employed full-time, and 10% are people running a business. Another 11 percent respondents are pensioners.
The data also indicate that it is not the poorest who decide to take out a loan. Almost half of the people reported that their personal net income was between PLN 1,500 and 3,000. Over 21% respondents earn even more than 3000 PLN. As much as 28 percent of them declare that they have enough money for their current needs and decide on a loan in exceptional situations.
Stereotypes about the clients of loan companies are probably based on the belief that anyone can take out an online loan. Although it is true that applying for payday loans is far less troublesome than applying for a bank loan, the activities of loan companies are regulated by numerous regulations. One of them is, for example, control of customer data in the BIK and KRD databases. We should finally abandon the belief that the clients of loan companies are people in financial difficulties, who spend extra money on basic needs. Increasingly, for the money from the loan, we renovate apartments and educate ourselves