Thank you very much for bringing that up.
The story of people getting trapped in these debt cycles is not uncommon. They can't get services through a regular bank and they're forced to turn to these predatory lenders. We used to have postal banking that served low-income communities. That was eliminated.
I know of a member here in Ottawa, from our Vanier chapter. He had gotten trapped in a debt cycle like that of getting another loan to pay off the one he took out before and still needed it to pay his rent. He was unable to find work or the work that he had wasn't enough to cover his expenses. He had family he could turn to, but he had his pride. It was quite a stressful event for him. When family and money get involved, it can really strain relationships. It really puts people in a bind.
Yes, we need to support that bill to end the ability of these lenders to be such predators.