ACORN RALLIES FOR TENANT REFORM
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ABORIGINAL PROGRESS FRAGILE
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NEW ACQUISITIONS AT GALLERY
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WEDNESDAY
AUGUST 7 2013 www.burnabynewsleader.com
Peter Tsui of the Burnaby RCMP was a member of the RCMP Musical Ride from 2003-07 and he’ll be catching up with some friends when the ride visits Swangard Stadium on Aug. 27. Page A7
Drug dealer suspect arrested at skate park RCMP seize marijuana at residence
MARIO BARTEL/NEWSLEADER
With a limited income, Desiree Wells says she does as much of her shopping as she can at thrift stores, but she still finds herself trapped in the payday loan cycle when money comes up short.
Are payday loans a bum deal? Some say they prey on the poor, others say they’re a necessary evil Chris Bryan
editor@burnabynewsleader.com
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A few months ago, Desiree Wells’ paycheque arrived a couple days late. What would be an inconvenience for some turned into a serious headache when payments for her phone, internet, tablet and payday loan were charged to her empty bank account, resulting in significant NSF (non-sufficient
funds) charges. Wells has an artificial leg which she says limits her ability to work, and earns about $1,000-$1,200 a month providing child care and selling the jewelry she makes. The New Westminster woman lives frugally and shares an apartment with a boyfriend and roommates. The NSF charges have spiralled into the hundreds of dollars, and are the most recent financial difficulty for Wells, who has a bank account but no overdraft due to lack of a positive credit history.
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Compounding tight finances is a payday loan habit that she can’t shake. About a year ago, she was short of cash and resorted to an online payday lender for an extra $100. Though she paid it back in full, including the interest fee of about 40 per cent, it meant she was now down about $140 the following month. “Like I’m sure everybody can attest, you get one (payday loan), then the next month you get a little bit more because of what you have to repay,” said Wells. “Then like a
snowball it just gets out of control.” The loan has ballooned to $350 a month, with the interest bringing that number to $500. “It’s now costing me almost $150 every month, just to pay the interest.” She’s managed to hold the line at $350, but it means her already meagre income is significantly diminished. Because Wells’ payday loan was secured online, it was likely not subject to any rules, such as limits on the interest charged. Please see ANNUAL INTEREST, A3
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It seems there may have been a little more than nollies and railstands going on at the Bonsor skateboard park recently. On Tuesday, Burnaby RCMP arrested a 23-year-old male for trafficking in marijuana. Acting on a tip from the public, the RCMP Community Response Team put a suspect under surveillance for several days before executing a search warrant on his residence. They seized a quantity of marijuana and arrested the suspect at the skateboard park. That’s caused some concern to the police. “The fact that the arrest occurred at a skateboard park utilized by youth could suggest that some youth were also being supplied marijuana, which is illegal and addictive,” said Sgt. Scott Rintoul of the Burnaby RCMP. The investigation is continuing.