How To Get Payday Loans In Canada

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The rent is due and you do not know where you can get the money. You are going to have to find some money. You had some surprise expenses this month and had to spend the rent money. Money is coming in soon and next month there will be no problem to pay the rent. And there is no problem to repay the payday. You feel that perhaps it is time to learn how to get payday loans in Canada today.

Payday loans are loans you must repay on the day you receive you salary. These are extremely short term loans that are easy to get. You may even be eligible with a bad credit rating.

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In Canada, there is a limit to the loan they will allow you to borrow. Your first time loan is a maximum of $500 while if borrowing for a second time, you can borrow up to $1,500. The amount of your loan is based on your income. There are fees attached to borrowing.

There are conditions you will have to meet. A minimum age requirement exists, but the minimum depends on the company. Another condition is that you are employed and receive a regular salary. An added condition for eligibility is to be a Canadian citizen or have Permanent Canadian residency. No one who has declared bankruptcy or credit counseling is eligible to apply for a loan. The majority of the applications are approved.

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The process to apply is very easy since you apply online. Completion of the application is a first step to getting a loan. Once the request is approved, you receive a confirmation by e-mail. Following this, the amount is deposited electronically into your bank account. You may receive your loan within the hour or overnight.

When it is due, the loan repayment is withdrawn from your bank account automatically. Some companies will approve another loan immediately after you have reimbursed the first one. There are generally no extensions on payday loans.

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While your request can be completed online, you have a guarantee from the companies that any personal information will be private. There is a possibility that you will have to provide the company with other documents. These can be sent by fax or e-mail. There is no obligation to send any documents as collateral to the company. Your own job and salary is the collateral.

Choosing between different BC payday loans can be overwhelming, and a payday loan might not be the best choice.

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