Americans take about a third of payday loans for urgent medical needs, according to the survey 2021. Common reasons for taking out loans for bad credit in CT are the desire to pay for car repairs, rest, pay for medical treatment, pay off debts. There are also “exotic” goals – investing in Forex and buying gifts to apologize to a girlfriend. Americans take about a third of loans (35%) for medical needs when they urgently need cash until they get their next paychecks. Financial experts analyzed more than 100,000 applications for unsecured short-term payday loans in 2020. The second common reason why consumers applied for loans online is home renovation. This goal was indicated in 18.6% of applications.