5 - How to Avoid Payday Loans
Sep 03, 2021•22 min•Ep. 5
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Episode description
The COVID-19 pandemic has thrown millions of Canadians into financial distress. Many have been forced into taking on high interest or payday loans without knowing the consequences. Licensed Insolvency Trustee Matt Fader tackles the subject of payday loans. In this podcast he sheds some light on the following topics:
- How payday loans work and how interest is calculated
- The real cost associated with servicing your debt
- How to break the payday loan cycle
- Installment loans, consolidation loans, and credit counselling
Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.
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