5. Do Pay Day Loans Affect Financial Well-Being?
5.1. Credit rating Record Information and Outcome Measures
The credit score information found in this paper result from the Federal Reserve Bank of the latest York credit rating Panel/Equifax (CCP), a nationally representative longitudinal database with step-by-step information at a quarterly frequency on unsecured debt and loan performance derived from credit rating records maintained by Equifax, certainly one of that country’s three major credit reporting agencies. 18 The CCP may be used to calculate both estimates that are nationally representative the finish of an offered quarter along with to monitor alterations in financial obligation usage and loan performance for a provided person in the long run. 19
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