FCAC will adapt its existing consumer education materials and develop brand brand new materials to handle the gaps identified through this research. Our objective is always to help Canadians make more informed borrowing choices also to look for appropriate support as needed.
FCAC’s customer training resources will give attention to: (1) fostering customer comprehension of the expense of pay day loans in accordance with existing options, and (2) how to reduce reliance on payday advances, specially by paying off debts and closing recurrent financial obligation rounds. FCAC resources will concentrate on the after themes:
Price of credit:
Many loan that is payday may well not recognize that payday advances are probably the most costly techniques to borrow cash. Some can be confused whenever borrowing expenses are perhaps perhaps not expressed within the manner that is same all credit choices. Continue reading “6.1. Promoting customer awareness through academic resources”