Responsible lending policy
When a borrower sends us an online loan application, the file is subjected to a selective analysis to verify whether the candidate has the necessary means to repay the loan. This capacity is assessed by a procedure including:
- Checking your salary
- Checking the amount of bounced payments in your bank account
- Evaluating the amount of your commitment that may influence your repayment capacity.
If your file meets all our requirements following this processing, your request will be immediately ACCEPTED.
Responsible collection practices
Always taking the borrower’s financial status into account, our company has implemented a responsible collection practice that helps them have control over his finances. In the event of payment difficulties, we can make repayment agreements by discussing the next repayment terms with him. Brokerage interest accumulates based on the remainder of the unpaid capital and the length of the delay.
All legal fees that may result from the recovery of the balance due will be borne by the borrower who remains solely responsible.
Missed payments and credit score
If a borrower has missed a repayment due to a refusal of payment from his institution for insufficient funds or other, the payment of this balance will be postponed to the end of the contract, with an added fee of $40. This will have no effect on his credit score within our company and other credit agencies will never be notified.
Furthermore, if a borrower must unexpectedly postpone a payment, he must notify us by phone 48 hours in advance. This delay will result in a fee of $40 which will be payable at the end of the contract. A diligent reimbursement ensures excellent service for a possible future renewal.
Short-term loans are to be contracted RESPONSIBLY. This kind of loan is very easily available in the market, but should only be used for short term situations and when you don’t have any other options for getting money quickly. So, these loans can be essential for you when you are facing an emergency situation requiring financial assistance. However, avoid taking out several short-term loans at the same time! Because if you do, the interest generated can put you in a bad financial position.