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Alternate monetary services (AFS) relates to services such as for example pay day loans, quick money installment loans

Home В» We We We Blog В» Clamping Down On Payday Advances & Regulating Alternative Lenders

Recently, the Ontario Ministry of national and Consumer Services (Ministry) asked interested events to submit their tips about prospective how to strengthen customer protection for all people who could use alternate monetary solutions (AFS) such as for example payday advances and fast cash installment loans, in addition to people who might find on their own dealing with collectors.

The devastating financial impact the excessive use of high cost, subprime lending products has on every day Canadians as one of Ontario’s largest personal insolvency firms, we see first hand. As numerous whom read our we we blog understand, I have always been specially enraged by the methods of payday loan providers and other financial products built to entrap people in a cycle of pay day loan borrowing against their very own monetary most useful interest. Continue Reading…