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'In a perfect world it would be great if they didn't exist': how Australians experience payday loans

Citation

Banks, M and Marston, G and Russell, R and Karger, H, 'In a perfect world it would be great if they didn't exist': how Australians experience payday loans, International Journal of Social Welfare, 24, (1) pp. 37-47. ISSN 1369-6866 (2014) [Refereed Article]

Copyright Statement

2014 The Author(s). International Journal of Social Welfare

DOI: doi:10.1111/ijsw.12083

Abstract

In the last few decades, payday lending has mushroomed in many developed countries. The arguments for and against an industry which provides small, short-term loans at very high interest rates have also blossomed. This article presents findings from an Australian study to contribute to the international policy and practice debate about a sector which orients to those on a low income. At the heart of this debate lies a conundrum: Borrowing from payday lenders exacerbates poverty, yet many low-income households rely on these loans. We argue that the key problem is the restricted framework within which the debate currently oscillates.

Item Details

Item Type:Refereed Article
Keywords:payday loans, inequality, social services, welfare conditionality
Research Division:Human Society
Research Group:Development studies
Research Field:Poverty, inclusivity and wellbeing
Objective Division:Law, Politics and Community Services
Objective Group:Government and politics
Objective Field:Public services policy advice and analysis
UTAS Author:Banks, M (Dr Marcus Banks)
ID Code:150527
Year Published:2014
Web of Science® Times Cited:9
Deposited By:Management
Deposited On:2022-06-19
Last Modified:2022-07-22
Downloads:0

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