Payday loan use on the rise
Payday loan use is on the rise in Ontario, according to a new survey, and insolvency experts say the loans are increasingly being taken out by people with ...
Business Report: Payday loan use grows for 6th year in Ontario
A study by a Toronto-based firm says the use of payday loans is up for the sixth consecutive year in Ontario. Meanwhile, some major changes could be coming ...
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Mr. Payday, has been serving Canadians since 2002. We provide online payday loans and easy cash advances in British Columbia (Vancouver, Surrey, Burnaby, and others), in Alberta (Calgary, Edmonton, and others), in Ontario (Toronto, Ottawa, Mississauga, Brampton, Hamilton and others). Implications of non payment Financial implications Mr. Payday is a responsible lender.
Payday loans, sometimes called a 'cash advance' or 'fast cash loans' are specialist loans designed to cover you until your next payday. They way they work is that you borrow a small amount of money, usually between $100 and $1000, that you repay plus interest on your next payday.
Ontario, Alberta and New Brunswick residents: The cost of borrowing at is $15.00 per each $100.00 advanced. On a $300.00 loan for 14 days, the cost of borrowing is $45.00, with a total payback amount of $345.00.
A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as ...
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