Alternatives to payday loans

As of January 1st 2018, no payday lender may offer, arrange, or provide payday loans in New Brunswick, whether online or in person, without being licensed in New Brunswick.  Contact FCNB to check the licence status of a payday lender.

Before taking out a payday loan, consider alternatives. Alternatives such as emergency savings, paying with a credit card, or borrowing from friends and family may be a less expensive and safer option than taking on additional expensive debt. Taking out a payday loan when you are in a financially difficult situation increases your risk of not being in a position to pay it back, and falling into a debt trap.

Some other options to consider include:

    • Negotiating with your creditors
    • Talking to your financial institution about overdraft protection, a small personal loan or line of credit
    • Paying with your credit card or taking a cash advance on your credit card
    • Using emergency savings
    • Asking for a pay advance from your employer or working extra hours if available


In this section:

Downloadable Resources

Bulletin 2017-008-Reporting a change in circumstances
Bulletin 2017-007-Payday Loan System is up
Bulletin 2017-006-Payday Loan Implementation
Cost of Payday Loans
Notice of Cancellation and Receipt
Cancellation Rights
Payday Lender Kit


How do payday loans work?
What are the rules for payday lenders?
What does a payday loan cost?
Can a payday lender do that?

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