2021年02月10日
‘You feel ashamed': Despite tighter guidelines, struggling British Columbians nevertheless embrace payday loans
Industry says loans offer options to customers and guidelines are forcing loan providers to shut
Downtown Eastside poverty advocate Elli Taylor has seen numerous people that are desperate with payday advances.
She actually is been see your face herself.
In 2014, while being employed as a convenience that is part-time clerk in Williams Lake, Taylor took away exactly just just exactly what she thought could be a workable $250 loan to purchase a coach pass and Christmas time gifts on her 14-year-old twins.
Her take-home pay ended up being about $250 every fourteen days, but month-to-month instalment repayments of $50 became an issue aided by the then-legal price of $20 interest and charges for each and every $100 loaned.
“You’re snowballing into maybe maybe maybe maybe not to be able to pay for your food,” Taylor stated. “you’re feeling ashamed. It’s dehumanizing.”
It really is tales like this making it clear why B.C. has tightened the principles for payday loan providers starting in 2016: reducing just how much could be lent as well as the interest levels permitted.
But as the quantity of loan providers has declined under these rules that are new data reveal Uk Columbians are now borrowing from their website more.
New guidelines, exact exact exact exact exact same issue
Pay day loans provide quick money but need interest and costs higher than other loan kinds particularly if perhaps perhaps maybe maybe not repaid quickly — possibly six to seven times the expense of an amount that is equivalent a bank card cash loan or credit line. (さらに…)