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Pay Day Loans...the Debt that keeps on Giving

On almost every bankruptcy and proposal that passes by me, I see multiple pay day loans. Cash this, money that, they all have creative signs, funny dancing mascots, promised promotions, and spiffy commercials. However, the loans which they give out have ridiculously high interest rates, to the tune of 100's of percentile, and they never go away...interest and penalties continuing in perpetuity...

This is a great article that talks about the problems...https://www.cbc.ca/news/canada/alternative-lenders-marketplace-1.5891676