Beware of Pay Day

 Loan Shark Rip Offs


Cheque Cashing Services.

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


CanLaw Will Find You a Consumer Protection or Money Problems  Lawyer

Use CanLaw's Free Lawyer Referral Service When You Need a Lawyer

WARNING re Pay Day Loan Sharks Cheque Cashing Outfits.

Beware of Prey Day loan rip offs


Cheque cashing services.


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

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

Pay day loans are like crack. Once they get you hooked on easy credit, you are trapped for years paying huge interest rates.

The maximum cost of borrowing applies until the date your loan is due.

If you can help pay day loan victims advertise here



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


Free lawyer referrals service on CanLaw
CanLaw Lawyers

This is not legal advice, it is information