Shelter WA Member, the Financial Counsellors' Association of Western Australia are warning people about the risks of payday loans leading up to Christmas.
Payday loans come with extremely high fees. Maximum fees for a loan of up to $2,000 inclufde a one-off establishment fee of 20% and a monthly fee of 4% of what you borrowed!!
For further details download the information brochure.
For financial help: Financial Counsellors Association of WA Inc. Debt Helpline: 1800 007 007. www.financialcounsellors.org
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