Yesterday the boiling hot news of the day was a 25% interest bearing car loan to a BC couple. The story involved the TD bank and a family that had gone bankrupt recently. It raises a number of troublesome questions.
We look at the real cost of payday loans – how they compare to the cost of other forms of credit, both in the short term and long term, as well as compare the varying cost across Canada. We also look at some intersting stats which reflect on the payday loan cycle, in this eye-opening infographic and blog article. If you are struggling to repay a payday loan, or are trapped in a payday loan cycle, contact SolutionsTM for help with your payday loan debt today.
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