Sentences with phrase «increased use of payday loans»

Lowering the cost of payday loans in Ontario recently may have made this form of borrowing marginally cheaper, however the increased use of payday loans among indebted consumers makes payday loans a leading contributor to consumer insolvencies in Ontario.

While student debt is also an issue for millennials, their increased use of payday loans is making their financial situation much worse.

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Doug H: So, to summarize what you said the use of payday loans among people already in debt is increasing, they owe more in payday loans than what they make in a month, a lot more and they're taking out larger loans than they were before.

Prohibit low introductory rates to reduce the temptation for first time borrowers to increase their debt burden with the use of a high cost payday loan they can not afford to repay.