295 – The Vultures Are Circling: COVID-19 & High Interest Loans

COVID-19 is making Canadian's financial situations increasingly precarious, and high interest lenders are seizing this chance to market their services to those in need of fast cash. Not knowing their options, desperate borrowers take the bait and get sucked into a never-ending cycle of debt servitude. On today's podcast, Doug Hoyes and Ted Michalos explain what alternative lenders are doing to present themselves as being helpful to borrowers; and what borrowers can do to make ends meet without resorting to high interest loans. Doug and Ted also talk about what happens to unsecured debt levels and personal insolvency rates in a recession, with lots of charts and data presented throughout the show, so tune in!

Related Links:

Why Bad Credit Financing Loans are Seldom the Answer: https://www.hoyes.com/blog/why-bad-credit-financing-loans-are-seldom-the-answer/

You Can Now File a Bankruptcy or Consumer Proposal Online in Canada: https://www.hoyes.com/blog/you-can-now-file-bankruptcy-online-in-canada/