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.»