A credit card is a helpful financial tool as it provides convenient access to credit, enables cashless transactions, and often offers rewards or benefits, contributing to financial flexibility and management. Although this borrowing option can be beneficial, credit card debt can also be a significant financial burden for many individuals, especially when people cannot pay […]
In the world of personal finance, the terms good debt and bad debt are often thrown around, creating a dichotomy that may initially seem confusing. Not all debts are created equal, and understanding the difference between good and bad debt is crucial for making informed financial decisions. Good debt, often seen as an investment in […]
Many Canadians use credit cards to fund their daily expenses or deal with unexpected bills. Although credit cards can be a helpful financial tool, it often leads to an ongoing cycle of debt. This becomes a prevalent issue when individuals aren’t sure how to get rid of credit card debt and end up impacting their […]
Debt can often feel like a heavy anchor, weighing you down and limiting your financial freedom. It’s an everyday struggle, and many individuals find themselves juggling multiple debts with varying interest rates and due dates. When Canada’s net debt was reaching $942.5 billion in 2021, it was causing Canadians a lot of stress. This is […]
Financial burden is a common problem many individuals face, and debt can significantly contribute to the issue. According to a Fraser Institute 2023 report, The Growing Debt Burden for Canadians, “the debt burden for families across Canada has been growing substantially for more than a decade.” The report suggests Canada has a growing debt problem […]
When it comes to managing our finances there’s always money going in and coming out. And it can be tricky trying to keep track of where your money needs to go next. You’ve heard of the saying, “money can’t buy happiness”. But do you believe it? It is no surprise that we enjoy spending money. […]
They say money doesn’t buy happiness, which may be true, but money does help us live the lives that we want and need. It helps us have a roof over our head, food on our table, a car to get us to work every day, and the list goes on. However, according to a survey, […]
Debt is one of those words no one likes to hear. What is the first thing that comes to mind when you hear the word debt? Because there are also different kinds of debt, we are only experts when it comes to payday loans in Canada. You can have loans with the bank, a mortgage, […]
When it comes to finances, everyone is different. And that includes things like how you save and spend your money. One of the ongoing conversations and questions we hear about is what is more fiscally responsible, trying to save more or paying off debt? Well, the answer is different for everyone depending on their financial […]
Debt is one of those words no one likes to hear. According to Investopedia debt can be defined as, “an amount of money borrowed by one party from another. Debt is used by many corporations and individuals as a method of making large purchases that they could not afford under normal circumstances. A debt arrangement […]
Ontario, Alberta and New Brunswick residents: The cost of borrowing at is $15.00 per each $100.00 advanced. On a $300.00 loan for 14 days, the cost of borrowing is $45.00, with a total payback amount of $345.00. The maximum allowable cost of borrowing under payday loan agreements is $15.00 per $100.00 borrowed. Late-payment interest on your online payday loan is calculated at a rate of 59% per annum on any principal that is outstanding. There is also a one-time $50 fee for any dishonoured pre-authorized debit that comes back non-sufficient funds.
British Columbia residents: The APR on a $300.00 loan for 14 days is 391.07% at a rate of $15.00 per $100.00 borrowed. Late-payment interest on your online payday loan is calculated at a rate of 30% per annum on any principal that is outstanding. There is also a one-time $20 fee for any dishonoured pre-authorized debit that comes back non-sufficient funds.
Saskatchewan residents: The APR on a $300.00 loan for 14 days is 443.21% at a rate of $17.00 per $100.00 borrowed. Late-payment interest on your online payday loan is calculated at a rate of 30% per annum on any principal that is outstanding. There is also a one-time $25 fee for any dishonoured pre-authorized debit that comes back non-sufficient funds.
Nova Scotia residents: The APR on a $300.00 loan for 14 days is 495.36% at a rate of $19.00 per $100.00 borrowed. Late-payment interest on your online payday loan is calculated at a rate of 30% per annum on any principal that is outstanding. There is also a one-time $25 fee for any dishonoured pre-authorized debit that comes back non-sufficient funds.
Non Payment Policy: To collect on a loan in default GoDay.ca will utilize all collection practices available to the issuers of consumer credit in Canada.
Renewal Policy: We do not automatically renew payday loans.
