Best online payday loans

payday

The pros and cons of payday loans – Home, The 180 with Jim Brown, CBC Radio

with Jim Brown

Sunday August 23, 2015

Shops suggesting payday loans are a common look in Canadian cities. (CBC)

more stories from this scene

Across the country, payday loan companies market the ease and convenience of borrowing a duo hundred dollars to get their customers through the week.

But it’s the paying back part that can make these loans tricky. In Manitoba, it will cost you $17 for every $100 borrowed. The fee is $21 in Ontario, and $23 in B.C., Alberta and Saskatchewan.

Scott Gilmore of Maclean’s magazine recently learned the hard truth about effortless money, first-hand – and he thinks things need to switch. But payday loan industry spokesperson Stan Keyes says payday loans are often misunderstood.

This week on The 180, we hear both perspectives.

Scott Gilmore was mistakenly targeted by a loan company, recently, for debt owed by someone with his same name:

It was strange to detect a doppelgänger and to look into his life that way, voyeuristically, but what stunned me was I realized that he was paying approximately 400 per cent on that loan and he clearly couldn’t afford it. And I began to read about it and learn more about it and what I found about the state of the payday loan industry in Canada was flabbergasting. – Scott Gilmore

Stan Keyes is President of the Canadian Payday Loan Association, which represents the majority of licensed lenders in Canada. He says licensed payday lenders don’t deserve the vilification they often suffer:

No lender wants a borrower not to pay back the loan. And the law, the regulation in Ontario and every other province, is very clear: a licensed lender cannot extend the loan for a fee. – Stan Keyes

To encourage thoughtful and respectful conversations, very first and last names will show up with each subjugation to CBC/Radio-Canada’s online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in entire or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions voiced in comments. Comments on this story are moderated according to our Subjugation Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Note: The CBC does not necessarily endorse any of the views posted. By submitting your comments, you acknowledge that CBC has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that comments are moderated and published according to our subordination guidelines.

Related movie: Faxless Cash Advance no fax payday Loans



Leave a Reply

Your email address will not be published. Required fields are marked *