Month left on refunds for payday loans

Time is running out for people to seek a refund if they were charged illegal levels of interest on loans from the Cash Store Financial

Time is running out for people to seek a refund if they were charged illegal levels of interest on loans from the Cash Store Financial Inc., a payday loan company.

Consumer Protection B.C. ruled on March 23 that The Cash Store and Instaloans had charged more than 23 per cent interest on loans linked to cash cards, which is above the legal lending rate.

The company has 90 days to refund customers for unlawful loans from Nov. 1, 2009 forward. The refund period ends June 30. Greater Victoria has three The Cash Store and Instaloan locations.

For more, see www.consumerprotectionbc.ca/payday-lenders-portal or call toll free at 1-888-564-9963.

 

 

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