1-877-804-2742
Are you in the market for a payday loan in North York, Ontario? Do you have bad credit? Thankfully, you have plenty of choices. If you need to pay something immediately and have to source of funds, a payday loan may be your only option. This article can help you with your payday loans search.
Numerous payday loan companies exist. Always do your research before choosing a company for your payday loan. Look specifically for the reaction from customers who chose that company. A quick Internet search for customer reviews can be enlightening.
Understand what APR means before agreeing to a payday loan. APR, or annual percentage rate, is the amount of interest that the company charges on the loan while you are paying it back. Even though payday loans are quick and convenient, compare their APRs with the APR charged by a bank or your credit card company. Most likely, the payday loan’s APR will be much higher. Ask what the payday loan’s interest rate is first, before you make a decision to borrow any money.
Think carefully about how much money you need. It is tempting to get a loan for a lot more than you need, but the more money you ask for, the higher the interest rates will be. Not only, that, but some companies may only clear you for a certain amount. Take the lowest amount you need.
If you find yourself stuck with a North York payday loan that you cannot pay off, call the loan company, and lodge a complaint. Most people have legitimate complaints, about the high fees charged to extend payday loans for another pay period. Most loan companies will give you a discount on your loan fees or interest, but you don’t get if you don’t ask — so be sure to ask!
Consider how much you honestly need the money that you are considering borrowing. If it is something that could wait until you have the money to buy, put it off. You will likely find that payday loans are not an affordable option to buy a big TV for a football game. Limit your borrowing through these lenders to emergency situations.
Remember that a payday loan will not solve all your problems. Make sure you keep all your paperwork, and mark the date your loan is due. Failure to pay at the deadline could result in being billed a lot of money.
Write down your payment due dates. After you get the payday loan, you will have to pay it back, or at least make a payment. Even if you forget when a payment date is, the company will attempt to withdrawal the amount from your bank account. Writing down the dates will help you remember, so that you have no problems with your bank.
As you’ve read, payday loans can get you the money that you need. It is also a good solution if your credit score is too low for you to qualify for other forms of financial help. Keep this information in mind so you can stop worrying about money and make a better decision.