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Canajun FinancesMy personal views and rants on home finances with a Canadian Perspective |
Pay Day Loan Industry in Canada Being Legislated
Posted on 10/04/2006 00:00 AM | Link | Post Comment
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! This will allow the Provincial Governments to set Short Term interest rates, FINALLY! Evidently the usury that the Pay Day Loan folks can charge can be up to and include 1000% (yes 10 times 100%), amazing.
Folks, let me rant for a second, do not use these services, it is such a slippery slope, and once you are in these folks clutches, you have to work MIGHTY hard to get out from under.
A good one from the Government! --C8j
Folks, let me rant for a second, do not use these services, it is such a slippery slope, and once you are in these folks clutches, you have to work MIGHTY hard to get out from under.
A good one from the Government! --C8j
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