New, decreased maximum costs for pay day loans now ready across B.C.

New, decreased maximum costs for pay day loans now ready across B.C.

Brand-new, reduce prices for high-cost, brief cash loans – pay day loans – come into influence at the beginning of new seasons.

Maximum allowable fee – like all fees – for a quick payday loan in Brit Columbia is now $17 for one hundred dollars borrowed, making it the second-lowest price in Canada.

Reducing the full allowable bill to $17 from $23 creates on restrictions the Province implemented during 2009.

Before then, customers compensated no matter what loan company charged – as much as $30 per one hundred dollars lent together with limited securities and choice against unsafe financial methods. Continue reading «New, decreased maximum costs for pay day loans now ready across B.C.»