| QUESTIONS |
What is a payday loan?
A payday loan, or cash advance, is an easy way to get cash until your next paycheque. |
What are the requirements to get a payday loan?
To see if you qualify for an online payday loan you have to answer the following questions:
- Do you have a job?
- Have you been with your current employer for more than 3 months?
- Do you have an active chequing account?
- Do you get paid by direct deposit?
- Do you bring home at least $1000 per month?
- Do you have an active phone number that we can reach you at?
If you answered YES to all these questions - you qualify *.
*Unfortunately people who fall under the following categories do not qualify: self-employed, paid by commission, on social assistance, on worker's compensation or on disability. You must not have filed for bankruptcy in the past year. Final decision is made by a lender. |
Will I be approved for a cash advance?
Most people are approved for a cash advance; however, you may be denied if you fall under one or more of the following categories:
- Employment
If you are currently unemployed or if you have been employed at your current job for 2 months or less, your cash advance application may not be approved.
- Banking History
Your advance application may not be approved if you do not have a chequing account; if you have a newly opened chequing account; if you have multiple NSF charges in your chequing account, or if you have multiple outstanding payday loans.
- Income and contact phone number
Your cash advance application may not be approved if your net monthly income is less than $1000.00, or if you do not have an active phone number that you can be reached at.
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What if I have a poor credit history?
Bad Credit? No Credit? No Problem! Most payday loan lenders do not care about your credit history. If you meet the following requirements you are qualified for a payday loan: you are employed full time, making over $1000 every month, have your pay directly deposited into your bank account, have less than 3 NSFs in the last 60 days and have no delinquent payday loans. |
What if I am in bankruptcy?
People who are currently in bankruptcy are not qualified, but any discharged bankruptcies are of no concern. |
How soon can I receive my payday loan?
All loan applications are processed as quickly as possible. Depending on the volume of applications, it takes anywhere from 30 minutes to 2 hours for an application to be processed during regular business hours. |
What documents do you require me to fax in?
Lenders might ask you to fax your personal documents like IDs, paystub and a bank statement. |
When will I hear from you?
Once you complete online application, you will receive a conformation email with a login and a password to your private customer's page where you can login and monitor the status of your application. It usually takes about 30 minutes to process your online loan application during regular business hours, however it can take longer due to high volume of applications. |
I am approved, how do I get my money?
Funds will be wired right into your bank account or an Interac Email Money Transfer will be send to your email account. |
How do I pay you back?
Your bank account will be debited on your next scheduled pay day. |
How soon do I have to pay it back?
All payday loans are due on your next pay day. |
I have a small pay cheque this time; can I skip my payment till my next pay?
Your loan payment cannot be skipped. |
I don't want my employer to know that I'm applying for a loan. Do you have to verify my employment?
Most of the times lenders are able to confirm your employment through your bank statement and your paystub and they do not need to contact your employer. In some cases lenders might have to call and speak with your HR department. When calling your HR department, customer service agents are very discreet when verifying your employment and do not disclose that they are calling from a payday loan company. |
How much can I borrow?
You can borrow from $100 up to $500. (Subject to approval) |
Can I get approved today, and get the money later on, when I need it?
Yes, your application can be approve today and you can have funds deposited into your bank account whenever you need the money. Your approval is good for 4 weeks. When you do decide to get the funds deposited into your bank account, your information will be confirmed once again to make sure that it is still accurate and then the money will be deposited into your bank account. |
If I don't qualify for the loan amount requested, can I get a different loan amount?
Customers' loan limits are calculated on a point system, depending on that system lenders evaluate how much you qualify for and then will issue you a loan up to that determined limit. |
What provinces do you lend to?
Currently residents of the following provinces can apply for a loan: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Saskatchewan, Northwest Territories, Nunavut, and Yukon. |
Can I pay my loan back early?
Yes. Simply contact Customer Service Department to let them know that you want your bank account to be debited earlier than your loan due date. |
What happens if I default on paying back my loan?
Lenders do reserve the right to collect delinquent loans using all legal remedies available including legal debt collection and civil court action. |
