What you need to know
All the applications that we receive are analyzed by our brokers, who verify your ability to repay your loan. Among other things, their decision-making is based on the following elements:
1. The amount of your pay.
2. Your bank account must not reflect too many NSF payments.
3. The amount that you wish to obtain must be compatible with your ability to repay.
If all these criteria are met, we approve your application.
Responsible collection in accordance with the law
Rest assured that our collection methods comply with Canadian law.
If you are unable to repay your loan, an agreement is reached between you and our agents based on your ability to repay. You should know that late repayments generate interest on the outstanding amount of the loan. In the event that the collection results in legal fees, you will be responsible for paying them.
If you cannot avoid deferring a payment, you must contact us by mail at least 48 hours before the payment is due.
Each payment default results in the billing of fees in the amount of $40, and the unpaid amount is deferred to the end of the loan. This incident will have no effect on your credit score insofar as we will not report it to the credit agencies. Loans with repayment deadlines that have been met can be renewed in the future.
Short-term loans are last-resort solutions. In other words, you should only use them if you do not have access to another method of financing.
These loans, which help you deal with a complicated or unexpected situation, must remain temporary solutions. Refrain from applying for several short-term loans at the same time, which could lead you into a dangerous financial spiral and put you into over-indebtedness.