Harris Poll: Payday Loans and the Borrower Experience
Nine in 10 Payday Loan Borrowers Felt Product Met Their Expectations,
Are Highly Satisfied and Value the Service
More than nine in 10 payday loan borrowers surveyed recently said their experience with the terms (96%) and cost (92%) of their payday loans was as expected or better than expected. In the same survey, more than four in five borrowers (84%) said it was very easy or somewhat easy to repay their loans. The results come from a national survey commissioned by the Community Financial Services Association of America (CFSA) and conducted by Harris Interactive, an international and research polling company. 1004 respondents, ages 18+ were surveyed by telephone. All were customers of store-front companies within the CFSA and took out a loan which they repaid in the summer of 2013.