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Podcast: DebtMatters Podcast
Episode: 29 - Why You Shouldn't Use Quick Cash
Description: The COVID-19 pandemic has been a factor in the rise of same day money services. A recent survey found that 80% of those who used payday loans did so to pay for everyday living expenses like rent and groceries. With annual interest rates ranging from 25% - 400% this is a worrisome trend. But is the cost worth the benefit? In this podcast Derek Chase, Licensed Insolvency Trustee, explains the true cost of these same day money services. He also looks at:The negative momentum and dangers of starting these loansEase of procuring loans onlineCost of administration fees, interest rates, and...