Payday Loans - What Are They?
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UNIT 4
Payday loan companies are everywhere, both in retail commercial areas and online. They use catchy advertisements, and the fact that pretty much anyone with a job can get a loan, to attract prospective borrowers (e.g. YOU).
In Canada, you can borrow up to 30% of your paycheck. According to this
CBC article, on a $300 loan, you can expect to pay roughly $100 in interest and fees.
