RMIT & UQ research: payday advances a financial obligation trap for welfare recipients

Brand brand New studies have shown welfare recipients are utilizing payday loan providers to generally meet living that is regular consequently they are then caught in a financial obligation spiral, constantly indebted to 1 or even more loan providers for considerable durations according to Caught Short an Interim Report by RMIT University plus the University of Queensland and funded by nationwide Australia Bank and Good Shepherd Youth and Family provider. The study investigates the lived experiences of 112 individuals borrowing little, short-term loans from non-bank organizations in Queensland, NSW and Victoria. Read More Here…