Beware of predatory lending, which involves falling for high-interest loans and deceptive lending practices. To avoid becoming a victim, make sure to do your research and compare loans from different lenders. It's important to steer clear of high-interest loans, especially those with interest rates that increase faster than you can repay them. Before signing any loan agreements, make sure you understand all the terms and conditions for repayment.
Canada's new laws target predatory lenders →The term "creditworthiness" describes the degree of a lender's trust in a borrower's capacity to return a loan. The borrower's creditworthiness is mostly based on how successfully they have handled their prior financial commitments.
Discover how long it would take to pay down your credit card with our free credit card payoff calculator →← Curating the web to find the most interesting and helpful information about your money.