Lived Experiences with Payday Loans: African American Single Mothers and Employees

Abstract

Payday loans are disproportionately used by African Americans and women including single mothers. Little empirical research exists incorporating data from payday loan employees. This exploratory study used a phenomenological approach and in-depth interviews to examine the lived experiences of two groups: African American single mothers who used payday loans and former payday loan employees who extended and collected on payday loans. The interviews resulted in four themes from the single mothers' experiences including “right decision at the time” and “it's addictive” and five themes from the former employees including “help the customer come back” and “relating to the customers.”