When faced with an emergency shortage of funds due to an unexpected bill or repair, a payday loan can be a good solution. For example, it can be less expensive to use a payday loan to pay a late telephone or cable bill to avoid a reconnection charge, or to cover a cheque you have written to avoid an NSF charge from your bank. However, payday loans are not meant to be used continuously, or as long-term loans.

Understand the terms of your loan

You should read your loan agreement in full and be sure you understand all the costs and terms of the loan. If you have any questions, ask your loan provider. Ensure you receive a copy of each document you have signed. CCFA members must disclose all costs and fees to you, and provide you with a copy of your documents.

You should know when your payday loan is due, and make sure you have enough funds in your account on the due date so you do not incur any NSF fees. If your loan goes into default, you should contact your loan provider to work out a repayment arrangement. CCFA members are committed to collecting your past due loans in a professional, fair and lawful manner.

Credit counselling

If you have ongoing problems meeting your financial needs or debt obligations, you should consider talking with a credit counsellor. CCFA members are committed to providing credit counselling references; you can obtain referral to a credit counsellor through any of our members’ stores across the country. Other sources of help include:


If you have a complaint with a company that is a member of the Canadian Consumer Finance Association, you may receive assistance at:


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