What you need to know
Responsible lending policy
When you make an application, our brokers analyze it and ensure that you are in a position to repay your loan. Here are several elements that influence their decision:
1. Your salary
2. You should not have too many NSF payments in your bank account.
3. The amount you are asking for is deemed to be appropriate to your ability to repay.
When all these criteria are met, your application is approved.
Responsible collection
Please note that all collection practices we use are in accordance with Canadian law.
If you are unable to repay your loan, an agreement will be made between you and our agents taking into account your ability to repay. Please note that any repayment that is not made on time will accrue interest on the remaining balance owing. If legal fees related to collection apply, you will be responsible for paying them.
Missed payments
If you absolutely have to postpone a payment, you must call us 48 hours in advance.
For each missed payment, a fee of $40 will be applied and the unpaid amount will be carried forward to the end of your contract. Your credit rating will not be impacted because your file will never be reported to credit agencies. Loans that are repaid on time have an excellent chance of being renewed in the future.
Cautionary note
Short-term loans are solutions to be used only when you have no other option for financing.
They can help you get out of a difficult or unexpected situation but should be temporary solutions. Avoid taking out several short-term loans at the same time, as they could put you in a critical financial situation and in debt that is difficult to overcome.
