Money Mart Ontario

Learn how a payday loan works before you make an application for one.

Short term installment loans, also referred to as pay day loans, offer immediate access to cash for folks who require instant economic assist in the term that is short. As a result of the fast application procedure and fast turnaround time, there clearly wasn’t considerable time to know the way the short-term loan process works.

Therefore, you can expect to happen and when, what you will be charged and how, and if a short term loan is even the right option for you before you click that button to submit your loan application, find out what.

Warning: be aware with short-term loans

If you are experiencing hardship that is financial wish to talk to somebody at no cost monetary counselling, you’ll phone Credit Counselling Canada on 1800 007 007. It really is open from 8:00am to 5pm, Monday to Friday. When you compare loans that are short-term be certain to take into account all charges, fees and interest to comprehend just how much your loan could cost as a whole.

Options to short-term loans

Evaluate these options before you apply for a cash advance:

• Utilize online Government resources. The Financial customer Agency of Canada website demonstrates exactly just just how amount that is small work – and shows alternate options that will assist you.
• Re re Payment plans. Confer with your electricity, fuel, phone or water provider to see when you can work a payment plan out or get an expansion on the deadline if you’re behind on re payments.