Each payday loan company in Ontario and British Columbia has different underwriting rules that determine whether or not a customer will be approved or denied. However, there are generally common denomenators for why your application might be denied. Since online payday loans and retail front payday loans have different lending criteria, we’ll identify online-specific reasons […]
Month: June 2015
Can I Pay Back My Payday Loan Early?
If you want to pay back your payday loan early, you’re first going to need to know your lender’s policy on early repayment. We can’t speak about the specifics within other Canadian companies, but the general rule is that there is no penalty for repaying your payday loan before your due date. Some lenders, GoDay.ca included, […]
The 7 Stages of Credit Card Debt
You’ve undoubtedly heard of the famous “7 stages of grief”, which helps those who’ve been through an ordeal or a loss identify where they are in recovery. Interestingly, these 7 stages can also be applied to debt management and the emotions and thoughts one might have while under it’s pressures. We’ve put together a handy […]
Debt Collection 101
You’ve probably heard half a dozen horror stories regarding debt collection. Demanding calls at almost all hours of the day, being contacted at work, or learning that your references are being called constantly is a common occurrence in the collections world. While this might not make those of you who are in “collections world” feel much […]
