Dining dining Table 2 compares the traits of people who utilized AFS credit items throughout the year that is previous other study individuals. In accordance with the population that is general users of AFS credit are more inclined to be female, solitary, black colored, and young. These patterns that are demographic broadly comparable across users of various forms of AFS credit items. Users of AFS items are additionally more prone to be socioeconomically disadvantaged with regards to earnings, training, and work status; but, these traits differ throughout the form of item utilized. Cash advance users, while still economically disadvantaged in comparison to people who don’t use AFS credit items, have actually greater incomes than rent-to-own or pawnshop users and tend to be less likely to want to be unemployed. It is most most likely as a result of undeniable fact that cash advance clients have to show evidence of work to have a loan. 13
Demographic traits by usage of Alternative Financial solutions (AFS) Credit Products
Utilization of Conventional Credit Sources
Table 3 provides summary data for three forms of unsecured debt: general-purpose bank-issued bank card financial obligation, store personal credit card debt, and consumer finance loans.