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 card

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

  pdf Download this Payday Loans information (302 KB)  (pdf).

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

Last reviewed August 2021