Responsible loan policy
All online demands are analyzed and go through a selection process to ensure that borrowers are in a position to pay back their loan. This includes, but is not limited to:
- Verifying that your salary meets our criteria;
- Ensuring that you do not have an excessive amount of insufficient fund charges in your bank account;
- Determining if your previous financial obligations will interfere with your loan refunding capacities.
Following this analysis, if your file meets our standards, your demand will be ACCEPTED.
Our company uses the responsible collection methods in compliance with Canadian legal requirements. If a problem occurs during the time that you are repaying your personal loan, our agents from the collections department will make payment arrangement with you while taking into consideration your current situation. Missed payments will accumulate interest on the unpaid balance. The borrower is responsible for all legal fees generated from recovering a past due balance.
Missed payments and credit scores
You will be charged 40$ for any payment refused by your banking institution, for insufficient funds or any other reason, this 40$ will be deferred to the end of your contract. This situation will not affect your credit score within our company, and your file will not be transferred to credit agencies. In case of an emergency where you need to delay a payment, please call us at least 48 hours before the payment is due. This delay will result in a cost of 40$, that will be deferred to the end of your contract. Respecting payment schedules will ensure you an excellent service for future renewals.
All short term loans should be borrowed responsibly. These loans are available but should only be used short term and only if you have no other means in obtaining financing. When borrowing responsibly, these loans may be useful in order to help you in an unforeseen expense. You should also avoid borrowing several short term loans at the same time as this will put you in debt as well as in a bad financial situation.