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Maximum Charges on Pay Day Loans Go Down

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Loan companies in BC are now only allowed to charge consumers 17 dollars for every 100 dollars they borrow.

Scott Hannah, President of the Credit Counselling Society the change from 23 dollars to 17 is good news and he’s offering up some advice who people who want to take out a payday loan.

Hannah says you find yourself using payday loans more frequently, you should look at others ways to trim the budget so you can free up some cash in case of an emergency.

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