068 | Payday Loans - The Greed, The Bad, and The Ugly | The Financial Classroom Canada
Description
In this episode, Will, Tim and Eric decided to do something a little bit different and took a deep dive into the payday loan industry. While the hope is that listeners will never have to take out payday loans, the information provided in this episode may prove useful in conversations with friends and family members who may be considering payday loans as an option. Additionally, the information that was discovered around the predatory practices of the payday loan industry proved to be eye-opening and a little bit disturbing. Some of the topics included in this episode include:
- The one and only positive upside that they can find about payday loans
- Protections in place to protect borrowers
- Criminal interest rates in Canada
- Interest rates and fees charged by payday loan companies
- Alternatives to payday loans
- A brief introduction to instalment loans
If you are a 6-Figure Millennial or want to come on as a guest, feel free to reach out to us at finacialclassroom@gmail.com or find us on Instagram or Facebook.
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