21 mar ‘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 many people that are desperate with payday advances.
She actually is been see your face herself.
In 2014, while being employed as a part-time convenience shop clerk in Williams Lake, Taylor took away exactly exactly what she thought will be a manageable $250 loan to get a coach pass and xmas gift suggestions on her behalf 14-year-old twins.
Her take-home pay had been about $250 every a couple of weeks, but instalment that is monthly of $50 became an issue using the then-legal price of $20 interest and charges for virtually any $100 loaned.