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What did you learn about your topic that surprised you the most?

Something that surprised me most, is that the annual interest rate of loans can average at about %442. This seems outrageous, but this is to ensure they are able to make their money back and at an amazing rate on their end.

Provide a real-life example of how this topic is relevant or interesting for you.

This topic is relevant to me because if I knew anyone that needed a Payday loan, I would be able to educate them. Another reason why this is relevant to me because if I ever had bad credit, I would be able to get to get a Payday loan in need.

If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I believe the most important thing to pass onto a family member or friend would be the fact that there are many other alternatives to obtaining a Payday loan. I would emphasize the fact that getting a loan with an annual rate of %442 currently, would be a bad decision.

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This video is a great informer for Canadians. It explains that many companies hide guidelines due to the fact they only have to display what it would cost to borrow $300 for 2 weeks in Ontario. It also goes on to list better alternatives and routes to try before going to a payday loan company.  This can include trying to borrow from family members or friends.

I chose this video because many people may not understand that Payday loans should primarily be their last resort in difficult situations. The high interest rates is what makes these loans a bad idea.

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Adamson & Associates Inc. Licensed Insolvency Trustee

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This video focuses on the dangers of Payday Loans. A licensed insolvency trustee answering many common questions and grey areas associated with getting these loans. At the time of this video 4/10 people had Payday loans play a part as to why they required to ask for a consumer proposal or Bankruptcy.

This video is important because it warns Canadians about the dangers of trying to get multiple loans at lower amounts that don't have to be reported to the government.

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The 'overwhelming burden' of the payday loan cycle

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In this video, CBC news had one of their reporters go undercover as a customer to examine if these Payday Loan employees were being truthful and how well they are explained. In the first interaction, the employee responds says the rate is %3.94. She did not include that this is monthly. The annual interest rate in that situation was actually %46.

I chose this video because it is important to understand that it is the employees' job to make the sale and that it can be common to be misled in these financial situations. Having interactions recorded shows proof that if you aren't very knowledgable in an area, terms can be very easily misunderstood.

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The final video goes into weather or not Payday Loan affect an individuals credit score. Topics include how expensive it will be, whether they report to Equifax and Trans union, Value to the score and lastly value to the underwriter. Individuals seeking a Payday loan are seen as high risk which can cause worsening credit.

I chose this video because while it was short, there was a lot of information that was explained as well as the creators opinion on the overall topic of Payday Loans.

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Are Payday loans bad for your Credit? (In Canada)

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This website communicates 5 main topics. These topics include what a Payday Loan is, how it works, Pros,Cons, a breakdown and alternatives to Payday Loans. Something I find important on this website is that typical payday loans are small amounts, ranging from $100-$1500 with a 2 week term. Something else I learned on this website is that lenders usually do not check credit scores, which can leave borrowers into what is called a Payday Loan trap. A Payday loan trap is when borrowers are allowed loans they are unable to pay back. The last important information I viewed on this website is that the loan is unsecured. This means that in the event of being unable to pay back the borrowed money, the lenders are unable to take you property as the consequence.

What makes this website different from others is the way it is easily divided with pros listed with headings as well as other topics.

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By Lauren Bringle Jackson, AFC®
While advocates of payday loans say they grant loan access to people with poor or no credit, critics say these "short term" loans unfairly target minority populations and trap people into lengthy debt cycles.

What is the truth? Here's a breakdown to help you figure things out for yourself. In this article, we'll explore what a payday loan is and how it works, differences from state to state, some pros and cons of payday loans, and some responsible alternatives to payday lending.

Table of Contents

But first ...

What is a payday loan and how does it work?

A typical payday loan is a small-dollar loan (usually about $100-$1,500) with a two-week term that is due in a single lump payment on your next payday. At least, that's how it works in theory.

If the term "payday loan" doesn't ring a bell, here are some other names for it:

Cash advance

Short-term loan

Payday advance loan

Fast cash or fast loan

Bad credit loan

Deferred deposit transaction

Paycheck advance

According to the Consumer Financial Protection Bureau (CFPB):

"To repay the loan, you generally write a post-dated check for the full balance, including fees, or you provide the lender with authorization to electronically debit the funds from your bank, credit union, or prepaid card account. If you don't repay the loan on or before the due date, the lender can cash the check or electronically withdraw money from your account."

These loans target people with poor or no credit, or little financial literacy, who need access to cash immediately. But if you have bad credit or no credit, what other options do you have to access fast cash in an emergency?

We'll explore some responsible alternatives to payday loans at the end of this piece, but first let's break down the pros and cons of payday loans.

The pros of payday loans

Here's why some people turn to payday loans, despite the often negative consequences:

Pro 1: They're easy to access

The number one advantage of payday loans is that they're easy to access. In fact, many cash advance lenders promise access to cash within 24 hours and an immediate lending decision. Some are even available 24 hours a day, 7 days a week and have online applications.

Unlike traditional loans, which can take time to apply for, these loan applications can take as little as five minutes.

Pro 2: They have fewer requirements than other loans

Traditional lenders usually require a Social Security number, photo ID, proof of income, a credit check and will verify your ability to repay a loan. Unlike traditional personal loans, most "fast cash" loans have fewer requirements to apply.

Generally, all you need to apply for a payday loan is to:

Be at least 18 years of age

Have a government-issued ID or Social Security number

Have a regular job or other regular source of income

Have an active bank account

While having fewer requirements makes getting cash more convenient, keep in mind that the additional requirements from banks and other lenders were often put in place to help protect you.

Pro 3: They don't check your credit

Unlike traditional loans where you need good credit to be approved, payday loans don't require a credit history. Since they don't pull your credit, that also means no hard credit inquiry, which can lower your credit score by several points.

Except in rare cases, however, payday loans won't help build the credit you need to move onto higher quality financial products in the future.
Learn how to build credit by reading our post on "How to Build (or Rebuild) Credit."
Pro 4: It's an unsecured loan

Unlike a car title loan, traditional auto loan or mortgage, payday loans are not secured by personal property. This means that if you default (don't pay), the lender can't seize your property as a consequence.

While not secured, payday lenders often have access to your bank account as a condition of the loan, which is a different type of risk. They can also take other measures, such as sending your debt to collections or taking you to court over outstanding balances.

The cons of payday loans

When it comes to payday loans, the Federal Trade Commission, a government regulatory body focused on preventing fraudulent, deceptive and unfair business practices, states:

"The bottom line on payday loans: Try to find an alternative. If you must use one, try to limit the amount. Borrow only as much as you can afford to pay with your next paycheck - and still have enough to make it to next payday."

Which brings us to the first disadvantage of payday loans. ...

Con 1: They're expensive

Depending on the state, payday loans have high interest rates that average about 400%. For comparison, many personal loans charge about 4%-36% interest, while credit card interest ranges from about 12-30%.

This image shows just how high these rates can go, depending on where you live.

Source

To break this down into a more concrete example, here's what a payday loan of $500 could cost you in a few different cities across the US as of July 2019:

Looking at this city sample, it could cost $55-$102.27 to borrow a total of $500.

In contrast, if you had a $500 loan with a 30% APR, you would only pay an extra $25.12 in interest for a three-month term, making the total cost of the loan $525.12.

Here's how much that lower interest rate would save you in each of the cities above:

Following this example, you could save anywhere from $30-$77+ for every $500 you borrow if you use a traditional loan instead.

Notice also, with the 30% interest loans, you have a longer time period to pay back less money.

However, many traditional lenders require a minimum credit score to qualify. And the better your credit, the more money you could save over time.

Payday loans are sometimes harder to pay back than a traditional loan, because the lender did not verify your ability to repay before lending you money. Payday lenders don't generally assess your debt-to-income ratio or take your other debts into account before giving you a loan either.

Con 2: Payday loans are considered predatory

A predatory loan is defined as having unfair, misleading or unaffordable terms and has the potential to trap users in a cycle of debt. Payday loans are viewed as a type of predatory loan because of the high costs that can escalate quickly.
Some warning signs of predatory loans include:

1. The lender doesn't check whether you'll be able to repay the loan. If you can't repay the loan, you could be forced to roll the loan over repeatedly, accumulating new fees each time.

2. The loan doesn't help you build credit. If the loan provider doesn't report to any of the three major credit bureaus (Experian, Equifax or TransUnion), this could be a warning sign. If you're unsure whether or not a loan reports to the credit bureaus, ask.

Con 3: It's easy to get trapped in a debt cycle

Each time you extend (rollover) a loan, a payday lender charges additional fees, increasing your out-of-pocket costs for borrowing the money.

In fact, nearly 1 in 4 payday loans are borrowed more than 9 times.

Rolling the loan over can significantly increase the amount of time it takes to repay the loan, sometimes adding months or years to the original two week terms.

Con 4: They target low-income, minority communities

According to a 2016 report by the Center for Responsible Lending, payday lenders are mostly located in minority communities. In fact, the report found, there are about 8.1 payday loan stores per 100,000 people in African American and Latino communities, while mostly white neighborhoods only had about 4 for every 100,000 people.

That means there are twice as many payday lenders in communities of color as there are in white communities.

According to Keith Corbett, Executive Vice President of the Center for Responsible Lending, payday lending in communities of color is comparable to Jim Crow laws. In an NPR interview Corbett states that in the Jim Crow era, everyone said it was a free market, so it was "okay" for people of a certain color to have to ride in the back of the bus.

"The argument to place these fringe financial services in our community is pretty much the same. And think about it. If you are in a low-income community and the only place you see for financial transactions is a payday lender or a rent-to-own shop, it becomes a normal situation."

He continues by calling out the financial disparity between white communities and communities of color, citing the large gap in interest rates as a possible cause:

"And so what happens is if one community is paying no more than 15% to borrow money and the other community is paying 300-400% minimum, the community will never get out of poverty," Corbett states.

Con 5: They have access to your bank account

To gain access to a fast cash advance, borrowers are often required to grant the lender access to their bank account. While setting up direct deposit to make bill and loan payments is pretty common now, this account access works a little differently.

"Some payday lenders attempt to recover their money by taking what they're owed directly from borrowers' checking accounts, which borrowers grant access to as a condition of the loan. But unexpected withdrawals from the lender can rack up pricey overdraft fees and damage credit scores," CNBC reports.

Many payday lenders have you write a postdated check - meaning in this case, a check that is dated to be cashed after your next payday - when you get the loan. If you don't have enough money in your account when they cash the check, you could face expensive overdraft fees and bounced check fees (also known as insufficient funds) from your bank as well as returned or failed payment fees from the lender.

These extra fees add to the already high costs charged by payday lenders. If you find yourself in this situation, contact your bank immediately to discuss your options for protecting your account.

Con 6: Payday lenders can sue you for the money you owe

Just like other lenders, if you fail to pay a payday lender for long enough, they can take you to court and try to get a judgment against you for failure to repay a debt. If a judgment is ordered, you could face wage garnishment, imprisonment or other consequences.

Keep in mind, however, that legal battles are expensive. In the case of small-dollar loans, it's not always worth the time and money involved for the lender to sue. However, some companies or debt collectors will threaten to sue or threaten wage garnishment to scare you into paying them back quickly.

If you receive these threats, consider getting help from a local nonprofit organization focused on debt management, an Accredited Financial Counselor or a Certified Credit Counselor who could help you with your unique needs.

Con 7: They don't help you build credit

Last but not least, payday loans do not help you build credit because they do not generally report to the credit bureaus.

Some versions of payday loans in some states allow you to work your way up to lower interest loans that can be paid in installments and that report to the credit bureaus. However, this option is rare and little information is available on how long it takes, or how many unreported loans at high interest rates are required before you're able to build credit with their loan.

Similar to medical debt, payday loans usually only report your debt to the credit bureaus if it gets sent to collections. So while payday loans can't help you build credit, they could hurt your credit if you're not careful.

If you build good credit, you could qualify for higher quality financial products, including personal loans and credit cards with lower interest rates.
To learn how to start building credit, check out our blog post "How to Build (or Rebuild) Credit."
Ultimately, it's important to remember:

Payday lending varies by state

Some states prohibit payday lending as of spring 2019, including:

The District of Columbia also prohibits payday lending.

However, according to the National Conference of State Legislatures, 37 states have specific statutes that allow for payday lending. Other states do not have specific payday lending provisions or require lenders to comply with interest rate caps on other consumer loans.

These states include:

Each state has different regulations that govern the maximum interest rate (if any) cash advance loans can charge, as well as the maximum loan amount, loan terms and finance charges allowed. In 2019, there are also several pending pieces of legislation concerning payday loans.

Here's a closer breakdown of the states that do allow payday loans:

Colorado

$500

No maximum. 6 months minimum.

Can't exceed 36% APR. See here for additional regulations concerning origination fee, interest rates & monthly maintenance fees.

Florida

$500 for single payment loans, not including fees

31 days maximum (7 days minimum)

Fees can't exceed 10% of the original cash advance.

Fees can't exceed 8% outstanding transaction balance on biweekly basis.

Additional verification fees may also be charged.

Prepayment penalties prohibited.

Michigan

$600

31 days maximum

Service fee can't exceed:

15% of first $100 cash advance.

14% of second $100 of cash advance.

13% of third $100 of cash advance.

12% of fourth $100 of cash advance.

11% of fifth or sixth $100 of cash advance

Minnesota

$350

30 days maximum

Up to $50: can't exceed $5.50.

$50-$100: can charge 10% of loan proceeds + $5 administrative fee.

$100-$250: 7% of loan proceeds with minimum of $10 + $5 administrative fee.

$250-$350: 6% of loan proceeds with minimum of $17.50 + $5 administrative fee.

Additional rules apply for after loan maturity.

Ohio

$1,000

12 months maximum (91 days minimum). Minimum may be less if total monthly payment does not exceed 6% of borrower's monthly gross income.

Interest can't exceed 28% per year.

May charge monthly maintenance fee that doesn't exceed 10% of original loan amount or $30.

If original loan amount is greater than $500, may charge 2% of original loan amount.

Can charge up to $20 for returned or dishonored payment.

Can charge check cashing fee, not to exceed $10.

Damages, costs and other disbursements, may not exceed original loan amount.Fees and charges can't exceed 60% of original loan amount.

Rhode Island

$500

13 days minimum

Can't charge check- cashing fees that exceed 3% amount of advance or $5, whichever is greater, if check is payment from state public assistance or federal social security benefit.

Can't charge check-cashing fees for personal checks that exceed 10% of original loan or $5, whichever is greater.

Can't charge check-cashing fees that exceed 5% of original loan or $5, whichever is greater, for all other checks.

Can't exceed 10% of amount advanced in transaction fees.

Texas

Varies

For a loan of $100 or less, 1 month for each multiple of $10 cash advance or 6 months, whichever is less. For a loan of $100+, 1 month for each multiple of $20 of cash advance.

Varies widely depending on loan type and amount.

$0-$30: Acquisition charge can't exceed $1 for every $5 of cash advance.

$30-$100: Acquisition charge can't exceed one-tenth of cash advance amount. Acquisition fees are separate from interest.

This chart is current as of August 2019. For proposed bills and the most recent updates to these fees and regulations, click here.

To download a PDF version of this table, click here.

Responsible alternatives to payday loans

To avoid predatory loans such as payday and auto title loans, there are basically two tracks you can take:

1. The "I need money now" alternatives to predatory loans.

2. The proactive approach to avoid predatory loans in the future.

Let's take a closer look at each.

Payday loan alternatives if you need money sooner rather than later

1 - Review your bills and talk to the people you owe

Before taking out emergency cash to cover a bill, first look at any payment due dates, then at the dates when late fees start to accrue. Consider other consequences of late payments, and try to prioritize what you owe.

For example, many traditional lenders have a 15-day grace period before they charge a late fee. If you just need to wait for your next paycheck, would paying one bill a few days late (but before you get charged a late fee) keep you from having to borrow money to make ends meet?

If you're experiencing a financial hardship, try talking to your landlord, your utility company, your lender or whoever you owe money to and see if they'll work with you. It doesn't always work, but sometimes it does, so it's worth a try. Just give them a call and ask.

In certain cases, you might qualify for student loan forbearance or deferment, or consider bankruptcy as an alternative. If you're considering these options, try to connect with a nonprofit organization that could help you manage debt, or with an Accredited Financial Counselor or other reputable professional to get the help and advice you need.

2 - Get a loan from Mission Asset Fund

Mission Asset Fund (MAF) is a San Francisco-based nonprofit organization that provides 0% interest loans through lending circles to people in need across the country. Not only are these loans 0% interest, MAF also reports your payments to the three major credit reporting agencies.

There is a small caveat though. MAF requires you to take a few short financial literacy courses prior to qualifying for a loan. But if taking those courses could save you 400% on interest over a payday loan, isn't the extra time worth the wait?

3 - Get a Payday Loan Alternative from a Federal Credit Union

Payday Loan Alternatives (PALs) are small-dollar loans that range from $200-$1,000, with loan terms ranging from 1-6 months. Many credit unions also offer financial counseling at no additional cost to their members.

The catch with this type of loan is you often have to be a member of the credit union for at least one month before taking out this loan. To gain access to a PAL, talk to your local credit union.

4 - Get a cosigner on a traditional personal loan

While you might not qualify for a loan on your own if you have poor or no credit history, with a cosigner, you could gain access to a personal loan with better interest rates and build your own credit history while you're at it.

A cosigner is someone you have a close relationship with - like a parent or spouse - who agrees to take full legal and financial responsibility to pay your debt if you can't or don't. Ideally, a cosigner should be someone who has great credit.

Just remember, if you don't pay back the loan, you would not only put the financial burden on your cosigner, you could also damage their credit. (See more about how co-signers affect your credit.) So if you go this route, make sure you will be able to pay off the loan as agreed.

Proactive strategies to help avoid payday loans in future

Since emergencies can happen at any time, the best approach is to prepare as much in advance as you can. That way, if you do experience financial hardship, such as job loss, medical bills, unexpected car repairs, etc., you'll be able to either borrow the money through a high quality loan product or credit card, or have the money saved to cover what you need.

Here are some strategies you can start today to help avoid predatory loans in the future.

1 - Plan ahead for emergencies

Make sure part of your future financial plan is to save money for emergencies. Some personal finance experts recommend you set aside 3-6 months' worth of living expenses in an emergency fund. This fund should be a savings account you use only during emergencies, but can access quickly when you need it.

While 3-6 months' worth of living expenses can sound like an overwhelming amount to try and save if you live on a tight budget, remember that every little bit you set aside helps. For example, if you saved just $5 a week for a full year, by the end of the year you would have over $240. And that's before you add the interest your money earns in a savings account.

Unlike with money in a checking account, which sometimes charges fees, a savings account can help grow your money by earning interest. The interest on a savings account is known as the Annual Percentage Yield (APY). Be careful not to confuse APY with Annual Percentage Rate (APR) which is the amount of money you get charged for using a financial product.

Many online banks now offer pretty high APYs - at least compared to the national average - and don't require a minimum deposit to open a savings account. So you can start a savings account with just a few dollars.

For example, some banks, like Ally, offer an APY of over 2%, while some larger national banks like Bank of America offer closer to 0.03% as of spring 2019. When you get a savings account with a higher APY, you can grow the money you do have in your savings faster.

2 - Build your credit so you can qualify for higher-quality financial products

Aside from potentially trapping you in a debt cycle, many payday loans (most?) don't help you build credit even if you pay them off, since they do not report your payment history to the credit bureaus.

To gain access to more traditional loan products or credit cards with more competitive interest rates, it's important to build positive payment history that proves to lenders you can pay back what you owe on time and as agreed.

Final thoughts

When you're pinched for cash, it can be tempting to fill out a five-minute application to get the money you need through a payday loan. But the quickest way isn't always the best way, and you could end up paying for that single "payday" loan for years to come. So before visiting the closest cash advance store, be sure to take some time to look over your other options first.

About the author

Lauren Bringle Jackson is an Accredited Financial Counselor® and Content Marketing Manager for Self Financial - a financial technology company with a mission to help people build credit and savings.

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Self - The Pros & Cons of Payday Loans - Self.

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By Lauren Bringle Jackson, AFC® While advocates of payday loans say they grant loan access to people with poor or no credit, critics say these "short term" loans unfairly target minority populations and trap people into lengthy debt cycles. What is the truth? Here's a breakdown to help you figure things out for yourself.

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Welcome everyone! Here you will learn about Payday Loans/ Cash Money but, more specifically, the Pros and Cons associated with them. There will be numerous videos, websites, images and helpful questions answered that will help grow your knowledge regards Payday/ Cash Money loans.

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This image shows a visual representation of the disadvantages to obtaining a Payday loan. The most commonly known disadvantages being high interest rates and predatory lenders.

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This website is Cash Money. They are one of the most well known popular Lenders in Canada. This website briefly explains what a line of credit is and the process of applying for them. Satisfied customer reviews are also left towards the bottom of the page which can give assurance to others that they can be trusted.

I chose this website because it is a great way to see what interest rates would be in real time as well as how much money you could get.

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Loan availability and loan amounts vary by location.

British Columbia Residents: BC Licence #50066.

Installment Loans/Lines of Credit: Loan minimum of $100 to a maximum of $10,000, based on a completed application, net pay and other qualification requirements, and customer verification including a credit check. Installment loan terms are from 6 months to 60 months and are based on the amount borrowed. Payments are due on scheduled income deposits. Cash Money offers personal loans and is not a credit repair service. APR/Annual Interest Rate 46.93%.

Lending decisions and funding times subject to system limitations.

Loan Protection: Must be 18 years of age or older, and under 70 years of age to be eligible. The optional Loan Protection Plan is a Credit Group Insurance Plan Underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.

Western Union ® and the Western Union ® logo are registered trademarks of Western Union ® Holdings, Inc.

15-minute funding available only when using Interac e-Transfer ®. Subject to bank processing and system limitations. Interac e-Transfer ® can be used to transfer funds up to $10,000. Interac® and the Interac design are registered trademarks of Interac Inc.

Google Play is a trademark of Google Inc. Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Data rates may apply.

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Loan availability and loan amounts vary by location. British Columbia Residents: BC Licence #50066. Installment Loans/Lines of Credit: Loan minimum of $100 to a maximum of $10,000, based on a completed application, net pay and other qualification requirements, and customer verification including a credit check.

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This visual shows how much $300 would cost customers depending on that amount, as well as the term. This chart is a good visual aid for individuals that can not imagine the chart and alignment.

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The Government of Canada's website is filled with useful, reliable information about Payday loans. There is a table of contents containing information about options to consider before getting a Payday Loan, consequences of not paying back the loan and information about what you can do if you are stuck in a debt cycle. A debt cycle is when you may find yourself unable to pay bills and applying for many loans to pay other outstanding ones.

As I said above, this is on Canada's official government website which ensures it is extremely credible. They cannot and would not lie to the citizens.

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personal finance; credit; regulations; consumer protection; loans; debt; interest rates; debtors; borrowers

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How payday loans work, how much they cost in fees and interest. What to ask a payday lender and payday loan laws in your province or territory.

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This last website is by the company Cash Co Financial. They are a Toronto based alternative to a payday loan and offer their own type of loan called a Flex Loan. These are a long term loan instalment that can be used to rebuild bad Credit score. With every on time payment, the individuals credit score increases. There are many locations all around Canada, with 5 locations in Ontario.

I chose this website because many people may feel like a Payday loan is their only option when in reality it should always be the last! This shows that the company cares about their customers and wouldn't mind making less for the greater good of the individuals.

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Looking for a better alternative payday loans in Toronto? Then look no further than Cashco Loans, the fast cash lender.

Diversity is a word that describes the incredible lakeside city of Toronto. With a population of nearly 3 million people, Toronto is one of the most multicultural cities in the world and ranked, by the Places Rated Almanac as the safest in North America. Over 140 languages and dialects are spoken here. The city was founded as the Town of York in 1793 eventually becoming the City of Toronto in 1834. Over the years Toronto has grown to become a world-class city. Toronto is an expansive city covering over 641 square kilometers. It is 43 km from east to west and 21km from north to south. The waterfront city sprawls along the northwest shore of Lake Ontario giving its residents plenty of opportunity to discover and explore water-related activities, sports, holidays and hobbies.

The city itself is a green city with over 1,600 parks ad 200 km of trails for walking and biking as well as 10 million trees that populate the parks and line the streets and boulevards.

There are endless activities to engage in. Food, art, music, cultural pursuits to fit any interest and taste are abundant for those who live in Toronto.For visitors, the choices are just as many and as varied. Visiting the CN Tower, the Royal Ontario Museum, Kensington Market and St. Lawrence markets, Harbour Front, or a stroll along The Beaches are all popular tourist activities.

Need Flex Loan?

Our Flex Loans are long term installment loans and can be used to establish credit in Canada or rebuild bad credit scores. With each on-time installment payment throughout the term of the loan, your credit score will rise. This is one of the cool benefits of Flex Loans from Cashco Financial.

ONTARIO PERSONAL LOAN LOCATIONS

Acquire

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Payday Loan Alternatives Toronto – Cashco Financial

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Looking for a better alternative to payday loans in Toronto? Then look no further than Cashco Loans, the fast cash lender. Borrow up to $7,000 for 60 months.