Canadian Money Forum banner

GoEasy (GSY)

8K views 66 replies 12 participants last post by  james4beach 
Marketplace did an episode on Go Easy, Fairstone, Cash Money and Money Mart. All are charging interest rates of over 40% on their loans. Canada allows a max of 60%.

Definitely some very shady and high pressure sales tactics. Sky high insurance rates, interest on insurance, not allowed to take a copy of the contract until you sign. All of this clearly caught on camera. Definitely predatory.

I understand that folks should understand what they're signing, etc, but the truth is a lot of folks simply don't have the capacity. I also understand the high risk, etc the lender is takibg. The government needs to step in and better regulate this industry.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top