Data from payday loan providers
For thirty-seven lenders running within the pay day loan market, whom together constitute 99% of this total market by loan volume, the information includes documents of effective loan requests and loan performance (including information about standard and belated payments). Within these lenders, extra information ended up being collected for eleven big loan providers whom together constitute around 90% for the market by loan amount. Information includes information on unsuccessful applications as well as the credit rating value assigned every single application. The info set comes with details about company credit decision processes, including other assessment procedures such as for example fraudulence testing.
Using the loan-level information given by loan providers, the FCA commissioned a U.K. credit bureau to make use of its proprietary matching technology to recognize unique people. The credit bureau matched distinguishing information that is personal (name, target, date of birth) from firm documents to customer documents inside their database, as soon as performing this additionally matched consumers with their credit files and supplied these towards the FCA. The ensuing data set is just a consumer-level information set including the majority of consumer loans therefore the great majority of customer applications in 2012-13 and credit that is complete from 2008 to 2014. The information set comprises roughly 4.6 million specific customers who sent applications for at minimum one pay day loan in 2012-13 (around 10% associated with the U.K. adult populace), including around 1.5 million clients whom sent applications for their very first cash advance in 2012-13. Our analysis centers on these first-time loan candidates.
credit history information
Our main pair of result measures is extracted from credit files supplied by the credit bureau. U.K. credit bureau files have six-year documents of all of the credit and financial obligation products held by way of a customer. „The FCA data comprise loan-level records for applications to U.K. payday loan providers“ weiterlesen