Doug Hoyes: And youвЂ™re right, thatвЂ™s scary cause we define seniors as people 60 years and over, so a significant proportion of those people are retired, in fact 62% of the people are retired if youвЂ™re a senior, and.
Ted Michalos: ThatвЂ™s right; theyвЂ™re pensioners on fixed earnings. So, theyвЂ™re never likely to have that 3rd paycheque that a great deal of this middle income people rely on to repay their pay day loans. They understand theyвЂ™re obtaining the exact same sum of money on a monthly basis. So, if theyвЂ™re getting pay day loans it means theyвЂ™ve got less overall offered to pay money for other activities.
Doug Hoyes: therefore, the greatest buck value owing is utilizing the seniors, however in regards to the portion of people that utilize them, it is younger people, the 18 to 30 audience. There are many more of these who possess them; theyвЂ™re simply a reduced quantity.