Payday loans are short-term, high risk and high interest loans. There are other, far less expensive ways to borrow money, so consider your options carefully before borrowing from a payday lender. 

You may wish to speak with a credit counsellor about other, lower cost ways to borrow money, such as a loan from a line of credit or a cash advance on your credit cardCredit counsellors are listed under 'Credit and Debt Counselling' in the yellow pages in-print and online. The Financial Consumer Agency of Canada has information about finding a reputable credit counsellor, and about how they can help.

This page talks about your rights if you get a payday loan in Nova Scotia. It gives legal information only, not legal advice.

The Financial Consumer Agency of Canada also has easy to understand information about payday loans, and  a Financial Toolkit to help you manage your finances.

Last reviewed January 2021