Prudent loans provide  low cost bad credit loans in the GTA with fixed monthly payments usually over one year or more.  Pay day loans are the  highest-cost short-term loans which must be repaid usually within 2-4 weeks. With pay day loans, if you can’t make the payment, you must pay off the first interest and then re-borrow again on the original amount plus new interest. A cycle of spiralling interest charges often follows. Prudent loans are all reported to the credit bureau — essential to start rebuilding a positive credit history.  Pay day loans are not reported – except when you default on payments.   Click here for: Say NO to Pay Day Loans.