A simple venn diagram to help out borrowers figure out what is legal and what is not legal in the world of lending.
Pay Day Loans
Is there a reason for Pay Day Loans to be around? Are they good things for some folks? Absolutely not, they are usury.
Pay Day loans are predatory very high interest loans, that once a consumer uses, puts them on a financial death spiral, that they cannot escape.
Glad to see that the Ontario Government has finally taken aim at the modern day version of Loan Sharks and Usury, the “Pay Day Loan” companies that are doing unspeakable financial damage to the working… Read More »New Pay Day Loan Rules In Place in Ontario
Well, this is a good thing to see, it seems the Pay Day Loan folks are about to be regulated by the Federal and Provincial governments in Canada, and all I can say, is FINALLY!… Read More »Pay Day Loan Industry in Canada Being Legislated