CanLaw

PAY DAY LOANS

ARE DANGEROUS

BEWARE

Prey day loans charge over 500% interest

 

You can get a better deal from the Mafia

CanLaw Will Find You a Consumer Protection

 or Money Problems  Lawyer

HERE IS HOW THEY GET YOU HOOKED

 

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.

 

Pay Day Loans Are As Addictive As Crack

Pay Day Loans Are Easy Credit Ripoffs

 

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