I Can’t Pay Off My Payday Loan. What Now?

Are you stuck in a payday loan cycle?

If so, you want to act quickly to find a solution, so no further fees are applied or before the lender sells the loan to a collection agency. Once your financial situation has been pushed to a collection agency it will appear on your credit record and affect your credit score.

If you are stuck in the payday loan, contact us for a free consult at 1-800-565-4595 or info@debtfreecanada.ca. We can provide solutions for the repayment plan for a payday loan.

You are not alone. View this infographic (below) for many statistics regarding Canadians stuck in payday loans.

Canadians Turn to Payday Loans

Payday loan infographic courtesy of the Financial Consumer Agency of Canada
(https://www.canada.ca/en/financial-consumer-agency/programs/research/payday-loans-market-trends/infographic-payday-loans.html)

 

More information on Payday Loans:


For more information on payday loan repayment options, please contact us to discuss your situation with one of our Credit Counsellors. The consultation is free of charge.

If you have more questions about your debt, you can also check out our Questions page where we have answered many common questions about debt and your everyday life.