Information and Alerts
Alert Details
This business has 1 alert.
Alert
Customers are encouraged to contact their local regulatory agency if they have dealt with this business, and verify if True Payday Loan is licensed to operate in their area.
According to City of Edmonton Business Licensing no business by the name True Payday Loan (Credit Montreal 500) is licensed to operate at the address provided on either website.
Customers who have received loans from this company allege that they have received multiple harassing phone calls regarding the repayment of their outstanding loan.
On December 16 2016, BBB contacted True Payday Loan (Credit Montreal 500). As of Today BBB has not received any response from True Payday Loan (Credit Montreal 500).
BBB would like to remind consumers that lending rates of more than 60% APR are not permitted in Canada, unless it is for a payday loan. A Payday Loan may not exceed 62 days. True Payday Loans does not appear to provide payday loans as the lending period is too long. Non Payday Loan lending rates that exceed 60% APR are considered criminal and should be reported to the police.
Important Information
Customer Complaint
The BBB would encourage consumers to also bring concerns about this business to Service Alberta, the branch of the provincial government that administers the Fair Trading Act. You may reach them at 780-427-4088, or toll free at 1-877-427-4088, or via their website www.servicealberta.gov.ab.ca/ For information about provincial sales regulations BBB encourages you to check with your provincial government.
For your convenience please find a list of provincial agencies below:
Service Alberta: 1-877-427-4088
Consumer Protection Branch-Saskatchewan: 1-877-880-5550
Consumer Protection Office-Manitoba: 1-800-782-0067
Consumer Protection BC: 1-888-594-9963
Ministry of Consumer Services - Ontario: 1-877-665-0662
Consumer Services-Yukon: 1-800-661-0408
Consumer Affairs-Northwest Territories: 1-867-873-7125
Office de la Protection du Consommateur-Quebec: 1-888-672-2556
Consumer Affairs-Nunavut:1-866-223-8139
Consumer Affairs Division-Newfoundland:1-877-968-2600
Service Nova Scotia: 1-800-670-4357
Financial and Consumer Services Commission New Brunswick: 506-462-5100
Consumer Services Section-P.E.I.: 1-800-658-1799
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