Payday Lending

Payday lendingPayday loans are a very expensive way to borrow money, and should therefore only be considered as a last resort. Anyone thinking about taking out a payday loan should read all the fine print and think about the full cost of the loan before signing anything. Many provinces regulate payday lending, so consumers may wish to inquire about their rights and responsibilities, depending on where they live.

Learning More About Payday Loans

The Canadian Consumer Handbook provides tips, contacts, and other information for consumers, including information on payday loans. The Handbook is produced as a partnership by the Consumer Measures Committee, a group of senior federal, provincial, and territorial government consumer affairs officials.

The Financial Consumer Agency of Canada (FCAC) works to protect and inform consumers of financial services. The FCAC offers resources, interactive tools, and publications on financial consumer issues, including an in depth guide to understanding the cost of payday loans.

Provincial and Territorial Information

Choose your province or territory from the list above for information that applies to where you live.

For residents of Ontario

The Ministry of Consumer Services (MCS) helps educate, protect and serve consumers in Ontario by ensuring a fair, safe and informed marketplace. The Ontario government regulates payday lending companies and its website offers useful information and tips for consumers on a number of issues, including payday loans.

For residents of Quebec

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Office de la protection du consommateur
400 Jean-Lesage Boulevard, Suite 450
Québec, Quebec G1K 8W4
Telephone: 418-643-1484
Toll Free: 1-888-672-2556
Fax: 418-528-0976
Website: www.opc.gouv.qc.ca

For residents of Nova Scotia

Service Nova Scotia and Municipal Relations is responsible for enforcing consumer protection legislation in the province and providing information products and services to consumers, notably through Access Nova Scotia.

The consumer awareness section of the Access Nova Scotia website provides information for consumers on a number of issues, including payday loans. This includes information on your rights when considering a payday loan, as well as a list of licensed payday lenders in the province.

For residents New Brunswick

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Financial and Consumer Services Commission
Kings Place (King Tower)
440 King Street
Fredericton, New Brunswick E3B 5H8
Telephone: 506-453-2659
Toll Free : 1 866 933-2222
Fax: 506-444-4494
Email: info@fcnb.ca
Website: www.fcnb.ca

For residents of Manitoba

Consumer and Corporate Affairs, a division of Manitoba Family Services and Consumer Affairs, helps educate, protect and serve consumers by building consumer confidence in the marketplace, and by providing responsive client services.

The Consumer and Corporate Affairs website provides information and tips for consumers on a number of issues, including answers to frequently asked questions on payday loans.

For residents of British Columbia

Consumer Protection BC is a not-for-profit corporation which delivers consumer protection services throughout British Columbia. Consumer Protection BC is dedicated to promoting a fair marketplace for consumers and businesses and enforcing consumer protection laws in BC.

Their website offers useful information and tips for consumers on payday lending, including your consumer rights, frequently asked questions about payday loans, and how to file complaints.

For residents of Prince Edward Island

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Consumer Services, Office of the Attorney General
Shaw Building, 4th Floor
95 Rochford Street
PO Box 2000
Charlottetown, Prince Edward Island C1A 7N8
Telephone: 902-368-4580
Telephone: 902-368-4550
Toll Free: 1-800-658-1799
Fax: 902-368-5283
Website: http://www.gov.pe.ca/jps/index.php3?number=1002799&lang=E

For residents of Saskatchewan

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Consumer Protection Division, Financial and Consumer Affairs Authority of Saskatchewan
1919 Saskatchewan Drive, Suite 500
Regina, Saskatchewan S4P 4H2
Telephone: 306-787-5550
Toll Free: 1-888-374-4636
Fax: 306-787-9779
Email: consumerprotection@gov.sk.ca
Website: www.justice.gov.sk.ca/cpb

For residents of Alberta

Service Alberta works to ensure a fair marketplace for both buyers and sellers by investigating consumer complaints, enforcing consumer protection legislation and providing information products and services to consumers.

Service Alberta's website contains consumer information and tips on a variety of consumer issues, including a tip sheet on payday loans, and a payday loan calculator.

For residents of Newfoundland and Labrador

For more information on this topic, you may wish to contact your provincial consumer affairs office. They can be reached at:

Service NL
PO Box 8700
St. John's, Newfoundland and Labrador A1B 4J6
Telephone: 709-729-4834
Toll Free: 1-877-968-2600
Fax: 709-729-6998
Email: gsinfo@gov.nl.ca
Website: www.gs.gov.nl.ca/index.html

For residents of Northwest Territories

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Consumer Affairs, Department of Municipal and Community Affairs
5201-50th Avenue, Suite 600
PO Box 1320
Yellowknife, Northwest Territories X1A 3S9
Telephone: 867-873-7125
Fax: 867-873-0309
Email: michael_gagnon@gov.nt.ca
Website: http://www.maca.gov.nt.ca/?page_id=504

For residents of Yukon

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Consumer Services, Department of Community Services
Andrew Philipson Law Centre
2130 Second Avenue, 3rd Floor
PO Box 2703 (C-5)
Whitehorse, Yukon Y1A 2C6
Telephone: 867-667-5111
Toll Free: 1-800-661-0408 ext. 5111
Fax: 867-667-3609
Email: consumer@gov.yk.ca
Website: www.community.gov.yk.ca/consumer/index.html

For residents of Nunavut

For more information on this topic, you may wish to contact your territorial consumer affairs office. They can be reached at:

Consumer Affairs, Department of Community and Government Services
267 Qaiqtuq Building
P.O. Box 440
Baker Lake, Nunavut X0C 0A0
Telephone: 867-793-3303
Toll Free: 1-866-223-8139
Fax: 867-793-3321
Email: Laupaluktuq@gov.nu.ca
Website: www.gov.nu.ca/english/