I applied for a loan from speedyfina and due to the emergency nature , I missed to review their terms and conditions, they didn’t send me a contract and for the 250 cad amount it was 8 instalments amounting to 432.17 which is 182.17 in interest . According to regulations payday loans cannot charge more than 14 per 100 cad borrowed which for 250 should not be greater than 285.50 . I did inadvertently miss a payment and they said I owe them 60 cad nsf fee . Which is another violation where according to regulations they cannot charge more than 25 cad per nsf. When I confronted them about this they stopped responding. Please refer Ontario consumer protection laws .In adherence to consumer protection law, they have to share their license registration number , the copy of loan agreement up to 1 year from date of loan.Obviously they are deceitful ,hence they have stopped responding.
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