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Alternate economic solutions (AFS) pertains to solutions such as for example payday advances, quick money installment loans

Alternate economic solutions (AFS) pertains to solutions such as for example payday advances, 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 possible approaches to strengthen customer security for everyone people who could use alternative economic solutions (AFS) such as for example pay day loans and cash that is quick loans, along with people who could find on their own dealing with collectors.

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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 blog understand, I have always been specially enraged by the methods of payday loan providers along with other financial products made to entrap individuals in a period of cash advance borrowing against their monetary most useful interest. With this thought, our company presented a written report into the Ministry outlining our findings and recommendations. Continue reading Alternate economic solutions (AFS) pertains to solutions such as for example payday advances, quick money installment loans