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 of the telephone book. 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 August 2019