Your English writing platform
Discover LudwigExact(2)
— states in a recent letter to the C.F.P.B.,"[i]n any large, mature payday loan portfolio, loans to repeat borrowers generally constitute between 70 and 90% of the portfolio, and for some lenders, even more".
In fact, data on the independent monitor sites (like Prosper-stats.com) show that loans to repeat borrowers have historically proven to be quite lucrative for lenders.
Similar(58)
Many studies have shown that payday loans can lead to repeat borrowing -- creating a financial hamster wheel of sorts that often ends with the hamster (that would be you) both fiscally exhausted and facing a much bigger debt than originally anticipated.
In recent months, Georgia's inability to pay its loans has led to repeated shut-offs of gas, considerably worsening Georgia's already severe electricity crisis.
In the phase 4 feedback sessions, practice staff also considered loans the more appropriate mechanism (rather than charging the patient), since the majority of requests related to repeat medication from the patient's regular pharmacy.
Determined to repeat the feat of their new acquaintances, the Lohans sold two buffalos, took a government loan and mortgaged their rice, wheat and sugar-cane crops.
To repeat.
The I.M.F.'s repeated loans to Russia in the 1990's are almost universally seen as failures.
The lack of clarity about which European banks are most at risk in debt-ridden countries has prompted banks to avoid making short-term loans to one another, threatening a repeat of the tight credit markets that followed the collapse of Lehman Brothers in September 2008.
It would also limit the number of "points" lenders can charge to 6percentt of the loan amount, prohibit repeated refinancings and prohibit loans to people who do not have the means to repay them.
Deutsche Bank and BNP Paribas were downgraded on Thursday after repeated concerns that their loans to southern European countries could become worthless.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com