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Payday Loans Across Canada: Globe & Mail

Your car breaks down. You can’t afford the repairs but you need your car to get to work. Your bank declines your loan application. What do you do? This is a situation too many Canadians have found themselves in. One unexpected expense turns into a potentially financially catastrophic situation. For the 48% of Canadians who do not have an emergency account, the answer might be a payday loan. Payday loans are expensive and seldom are they the only or the best option. Last week the Globe & Mail looked at payday loans across Canada.