Moreover, a customer that is unable to repay the initial pay day loan on time can very quickly get a unique one in purchase to refinance the earlier one.

Moreover, a customer that is unable to repay the initial pay day loan on time can very quickly get a unique one in purchase to refinance the earlier one. The average amount borrowed in 2013 was between GBP 265 and GBP 270 and the payback period was usually a month in the UK, for example. The interest rate could, however, …