The truth about long-term loans
CBC News | Posted: January 29, 2021 9:13 PM | Last Updated: January 29, 2021
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Do you have bills you can't pay off?
Money Mart, Cash Money, Easyfinancial and Fairstone Financial offer thousands of dollars in long-term loans at high interest rates. With the cost of borrowing at historic lows, we dig into how these alternative lenders are able to charge between 30 and 50 per cent interest. And, we uncover whether you're really told everything you need to know when you sign up for these loans.
Watch our hidden camera investigation above or anytime on CBC Gem.
Money Mart, Cash Money, Easyfinancial and Fairstone Financial offer thousands of dollars in long-term loans at high interest rates. With the cost of borrowing at historic lows, we dig into how these alternative lenders are able to charge between 30 and 50 per cent interest. And, we uncover whether you're really told everything you need to know when you sign up for these loans.
Watch our hidden camera investigation above or anytime on CBC Gem.