An anti-predatory financing strategy is necessary as increasing numbers of low-income earners turn to alternative, usually outrageously costly loans.

An anti-predatory financing strategy is necessary as increasing numbers of low-income earners turn to alternative, usually outrageously costly loans.

It’s costly to be bad. Unreasonably costly. Around 4.8 million Canadians underneath the poverty line, or more to 47 percent of Canadian employees report residing paycheque to paycheque. Quite a few are one flat tire or unforeseen cost far from spiraling debt. And several of those are economically marginalized: They may not be well offered because of the conventional financial system.

As a result, increasingly more of these are turning to fringe financial services that charge predatory prices: pay day loans, installment loans, automobile title loans and rent-to-own services and products. Continuar leyendo «An anti-predatory financing strategy is necessary as increasing numbers of low-income earners turn to alternative, usually outrageously costly loans.»