Recent Payday Loan Regulations in Nova Scotia

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Wednesday, 03 March 2010 00:00

The province of Nova Scotia became the first province in Canada to regulate the payday loan industry. The decision was reached after an extensive review and various consultations by the Nova Scotia Utility and Review Board (UARB). Primarily, the regulation sets certain limits to the fees and cost of borrowing.

Becoming a Responsible Payday Loan Borrower

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Wednesday, 24 February 2010 00:00

Payday loans are often criticised for charging high interest rates and fees and that it can trap consumers into a never-ending cycle of debt. However, proponents of this kind of short-term loans counterargue that they can serve as a convenient and ready source of cash in case of an emergency as long as the borrower acts responsibly. But how do you become a responsible payday loan borrower?

Finding Alternatives to Payday Loans

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Wednesday, 17 February 2010 00:00

Many people are attracted to short-term loans known as payday loans because they are made available even to those who have bad credit histories. A person can also get the money in just one day. However, these loans usually charge high interest rates and fees and many consumers have found themselves trapped into continuously getting another loan to pay the previous one. It is therefore advisable to look for other alternatives before applying for a payday loan.

What to Do when Dealing with Fraud Loan Companies

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Wednesday, 10 February 2010 00:00

Payday loans are short-term loans that have become popular because they offer funds to people who are suddenly faced with emergency expenses. These loans are quite easy to obtain and event those with a bad credit history can get them. Unfortunately, fraudulent companies have emerged either to steal the victim's confidential information or to charge usurious rates that could trap him or her into a cycle of loans.