Gambling and holidays drive payday loan debt among Finns

One in four over-indebted Finns has taken out a payday loan to fund gambling, according to a new survey by legal firm Takaisinperintä. One in five used the high-interest loans to pay for holidays. The most common reason remains everyday needs, particularly unexpected home repairs.

The findings are based on responses from 765 heavily indebted individuals using Takaisinperintä’s services.