Payday loan client in Calgary gets help from Good Samaritan

"I heard your story yesterday on the radioand it's just sadso I just thought I'd help you out."

And with that Jim Prokopwrote a cheque for $492 to cover AshleyKeewatin'spayday loan debt thatstarted a year and a half ago.

• Payday loan industry to face Alberta government review

CBC Calgary reportedKeewatin's storyon Wednesday. The Calgary resident who relieson Assured Income for the Severely Handicapped (AISH)had borrowed $400 for a damage deposit in March2014.

Every month he repaid that money, plus $92in interest, but then had to turn around and borrow the $400again to keep afloat.

He says he's paid almost $2,000overall.

'I just thought I'd help the fellow out'

Jim Prokop is a small business owner in Calgary who heard the story on CBC.

"It really touched me in the sense that somebody's vulnerable and in need and he's paying some [exorbitant] in interest fees ... just to live, so I just thought I'd help the fellow out and pay off his loan and he canmove forward."

Prokop says he likes to helphomelesspeople or those in need as much as he can.

"As of today I am out of that payday cycle. I'm free, I'm free at last,"said Keewatin."I'll be able to put groceries on my table, you know, like a little bit more groceries. It's financial freedom from this cyclethat I was in.

"And as far as payday loans are concerned I have learned my lesson," he added.

The Alberta government is asking for the public's input on payday loansover concerns about the amount of interest they charge.

In Alberta those companies are allowed to charge $23 for every $100 borrowed, which isthe second highest rate in the country.

An online survey will be on the Service Alberta website until Oct.28.There will also be face-to-face meetings with industry and other stakeholders.