Home В» Blog В» Can I File Bankruptcy for pay day loans in Canada?

You might a bit surpised to hear that 4 in 10 bankruptcies include payday advances. For most people, payday loans aren’t a single time borrowing option. You could start off thinking I’ll only sign up for one loan, therefore I will pay the lease, purchase groceries or create a bill repayment, nevertheless the issue is trying to repay the payday loan provider the mortgage, plus such high interest, departs you brief cash once again in your next pay. That’s why lots of people frequently go to a payday that is second to settle the very first. Ultimately they find yourself owing multiple pay day loans to numerous lenders that are payday. [Read more…]

Union Bank offers banking to poor communities by means of check cashing and pay day loans. Its efforts don’t win admiration that is universal.

Driving through Bayview Hunter’s aim, an undesirable, mostly African-American community near bay area’s 3Com Park, Union Bank of California Vice Chairman

Richard Hartnack Richard Hartnack

views one of several bank’s branches and sighs: “I’m able to state without doubt it is never ever made cash.” Why not near the branch? Since the government that is federal as a cost for approving Union Bank’s merger with Ca First Bank, compelled it to discover branches in low-income areas.

Farther south when you look at the rough Southern Central section of Los Angeles, it really is a picture that is far different the $36 billion (assets) bank. Standing down in their gray suit and tie that is red a dusty Hispanic community, Hartnack enthuses in regards to the organization’s bustling 15-unit Cash & Save check-cashing string, which Union has run since 1993, as well as its newer endeavor with Carson, Calif.-based Nix Check Cashing. [Read more…]