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Hamilton, Ont. woman ‘deeply regrets’ taking pay day loan with rate of interest of 47 %

Hamilton, Ont. woman ‘deeply regrets’ taking pay day loan with rate of interest of 47 %

Pat Foran Customer Alert Videojournalist, CTV Information Toronto

TORONTO — A Hamilton, Ont. girl claims she ended up being having financial hardships when she received the opportunity to combine her debts with that loan from a quick payday loan business.

“i obtained an offer from the payday financial institution and chose to benefit from it now we profoundly regret it,” Kathleen Kennedy told CTV News Toronto.

Kennedy stated that she took out of the almost $4,300 loan an and a half ago year. Even she still has much more left to pay off and due to the pandemic she says she can no longer continue to make her payments though she has been paying $252 per month.

She claims the attention price from the loan is 47 percent.

“I knew it had been a …

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