2015 has seen a lot of buzz around payday loans, both in Canada and abroad. With the buzz has come quite a bit of negativity, negativity that doesn’t exactly fit every nation’s respective payday loan industry accurately. Criticisms of the industry in the U.K, where regulation is quite loose, can’t be applied to the Canadian industry, for example, never mind Ontario’s industry specifically.
Though we understand that bad, out-dated practices have created a certain image for the payday loan industry, there are some myths that need to be clarified for the sake of everyone involved; consumer, legislators & the payday loan companies themselves.
Check out our latest infographic that tackles the top myths we encounter regularly. As a member of the Better Business Bureau & the Canadian Payday Loan Association, GoDay.ca is hoping to begin the transforming the industry to one that is trusted.
For the sake of honesty and transparency for all, we hope the public mentality surrounding payday lending changes soon.
