CanLaw Credit Problem Answers
Rated: 5 / 5 based on 6 customer reviews
2 00.00 Beware of Pay Day Loan Sharks and Cheque Cashing scams
Product description: WARNING Why Pay Day Loans sharks and Cheque Cashing Outfits are scams Don't be a sucker. Avoid them at all costs Pay Day loan cost about 500% interest.



Current as of

Beware of Pay Day

 Loan Shark Rip Offs


Cheque Cashing Services

Don't be a sucker.  Avoid them at all costs

Prey Day loan sharks are for losers

WARNING Avoid All Pay Day Loan Sharks Cheque Cashing Outfits.





The Federal Government has introduced legislation lowering the maximum interest rate specifically in order to curb these bandits. Both charge outrageous, probably illegal fees.

Pay-day loan sharks are charging annual rates of interest as high as 360% for advance loans, which is why several class-action lawsuits are now swirling.

Some credit card issuers face lawsuits over gouging rates on cash advances.

Both rip off the poor and leave them in worse shape than before. If you need to use a pay day loan service, you are already in deep financial trouble and need to get help... fast.


Your credit card company considers taking cash advances a possible sign of credit problems and will monitor your account very closely. They also charge higher interest rates for cash advances over regular credit card purchases.

Credit problems warning signs

Before you can determine the best course of action to achieve financial stability, you need to take a look at where you are right now.

Click here Go here for other helpful credit and debt help

Prey day loans charge

 over 500% interest

  You can get a better deal

 from the Mafia

The maximum cost of borrowing applies

until the date your loan is due.

Pay Day Loans Are As Addictive As Crack

Pay Day Loans Are Easy Credit Ripoffs



If you borrow against your next pay cheque, you will probably be short after the next pay cheque so you borrow again. And you are trapped.

Pay day loans are like crack. Once they get you hooked on easy credit, you are trapped for years paying huge interest rates.Some of the many ways payday loan companies charge illegal interest disguised as fees

Even though the Criminal Code of Canada considers fees and service charges to be interest, which are all charged on a payday loan nothing seems to be done to stop these crooks.

When a new regulation is made law, the pay day loan sharks change the names of their illegal charges to something else.

Each of the following is actually considered under the law to be interest. Added together they usually far exceed the legal amount of interest that can be charged for a loan

  • Setup fees
  • Account fees
  • Administration fees
  • Processing fees
  • Convenience charges
  • Verification fees
  • Brokers’ fees
  • Collection fees
  • Loan repayment fees
  • Renewal fees

There are many more terms for the hidden illegal interest charges these crooks use to cheat you.


WARNING Why Pay Day Loans sharks and Cheque Cashing Outfits are scams Don't be a sucker. Avoid them at all costs  Pay Day loan cost about 500% i
Your ad includes a free link to your web site
Directory and Index for all of CanLaw

Canada Trusts


On line Since 1996

CanLaw Guide to the Law on Debt for the Layperson

CanLaw ask a lawyer
Ask a credit management lawyer to work out deals with your creidtors You will sleep better