How often do most people use payday advance services?
More than half of all payday advance customers use the service six or fewer times a year, according to The Credit Research Center (CRC). Approximately 78 percent of those surveyed used the service between once a year and about once a month. When an immediate, short-term need arises, CFSA member companies are there to help. Remember, a payday advance is not a long-term solution for ongoing budget management. Repeated or frequent use can lead to financial hardship. If you find yourself repeatedly falling short between paydays, it may be time to consider long-term credit solutions or credit counseling. To obtain credit counseling services, contact the National Foundation for Credit Counseling. The NFCC is a national network of non-profit Financial Care Centers dedicated to helping people learn how to budget and use credit wisely. Call 1-800-388-2227 to find a center near you.
