Taking on another payday loan to pay back existing payday loans is not the answer. Learn how a bankruptcy or consumer proposal can eliminate payday loan debt and get the help you need to break the cycle.
Did you know that almost half of the insolvencies filed in Ontario involve payday loans? Our experts explore the statistics on how these predatory loans create more debt and why legislation won't help.
Payday loan use is on an alarming upward trend, and resulting in significant debt problems for millennials. Find out more about our current debtor statistics and how payday loans contribute to these issues.
Payday loans seem like a solution to a cash flow crisis but for many they are a cycle into long term debt. Doug Hoyes explains the dangers of payday loans for consumers and reveals alarming results from our research.
Payday loans are a large part of severe debt problems in Canada, and the Ontario government is not addressing the issue adequately. Learn about payday loan costs and what we believe will help mitigate this industry.
It’s no secret that payday loans charge an outrageously high interest rate. In Ontario, as of 2018, payday lenders can charge $15 for $100. If you take out a new $100 loan every two weeks,... Read more »
The payday loan industry in Canada loans an estimated $2.5 billion each year to over 2 million borrowers. Like it or not, payday loans often meet the need for urgent cash for individuals who can’t, or... Read more »
I recently participated as a speaker at a Financial Health and Literacy Workshop put on by the Guelph-Wellington Task Force for Poverty Elimination. While the purpose of the meeting was to provide information for community... Read more »
Recently, the Ontario Ministry of Government and Consumer Services (Ministry) asked interested parties to submit their recommendations on potential ways to strengthen consumer protection for those individuals who may use alternative financial services (AFS) such... Read more »
It is estimated that somewhere between seven and ten percent of Canadians use payday loans on a fairly regular basis to help make ends meet. It’s an understandable dilemma. The rent is due and you... Read more »
Running short of cash just before payday is not an uncommon occurrence but turning to payday loans to fund the gap is a very expensive debt mistake. You might start out thinking it’s only going... Read more »