Loans granted in a thoughtful way
When you apply for a loan, it is subject to a detailed analysis by our brokers, who verify your ability to repay it. The factors that allow them to grant you a loan (or not) include:
1. Your pay
2. Your bank account statements must not contain too many unpaid debts.
3. The loan amount for which you are applying must not exceed your ability to repay.
If all these conditions are met, your loan is granted.
The borrower is responsible for repaying the loan
We wish to clarify that we use collection methods that comply with the legislation in effect in Canada.
If you find yourself unable to repay the amounts stipulated in the loan agreement, our agents attempt to reach an agreement with you tailored to your repayment ability. Please note that late payments are charged additional interest, which is added to the remaining amount to be repaid. In the event that the collection actions undertaken generate legal fees, it is your responsibility to take care of them.
If you have no other choice but to defer a payment, you must contact us by mail at least 48 hours before the payment due date.
Any missed payment results in a $40 charge, and the unpaid amount is carried over to the end of the loan. This delay does not impact your credit, because we don’t report the incident to credit agencies. Borrowers who repay their loan on time are the ones who are more likely to obtain a renewal later.
Short-term loans are financing options when you are unable to get money otherwise. That is, they are temporary solutions that should only be used if you find yourself in an extreme financial situation.
These loans must help you temporarily improve your cash flow to allow you to recover from an unexpected or particularly serious situation. Don’t submit multiple short-term loan applications: you could find yourself in a worse financial situation or even over indebtedness.