The CFA report in 2015 identified that, most of the people who had taken out a payday or short term loan are male aged between 18 – 34. They were unmarried and without kids. Like any generalisation, how true was this at the time and then how true is it today?
Which Professions Need A Short Term Loan or Payday Loans the Most?
Looking at the report from the CFA, it’s easy to think that there is a certain class of people who take out a short term loan or payday loans. Only people who take home is in a certain bracket,
Those who apply for a short term loan or payday loan come from different professions with their own individual problems and circumstances. However, despite the diversity in these professions, there are also a number of common links which some jobs share.
Below is the top 20 professions that take a loan out from a lender:
|1: Nurses||13: Construction Workers|
|2: Professional Care Workers||14: Plumbers|
|3: Health Care Assistants||15: Telecoms Engineers|
|4: Social Workers||16: Train Drivers|
|5: Paramedics||17: Bus and Coach Drivers|
|6: Pharmacists||18: Warehouse Workers|
|7: Retail Sales Assistants||19: Paralegals|
|8: Estate Agents||20: Teachers|
|9: Kitchen Staff||21: Police Staffing|
|10: Consultant Agency||22: Firefighters|
|11: Bank Staff||23: Architects|
|12: Car Mechanics|
The truth of the matter is that there is no such thing as a typical borrower. They come from all backgrounds and are of all educational levels.