To find a reputable payday loan company in Canada, one of the best bets is to use one of the Canadian Payday Loan Association (CPLA) members.
All in all, the CPLA membership consists of a 18 companies that operate
763 different payday lending outlets across Canada, in every province
and territory, with the exception of Quebec.
In Canada, the payday loan industry lends out typically small sums for the short-term. In fact, according to the CPLA statistic, the average payday loan in Canada is around $280, and the average loan 10 days.
The responsible payday lenders in the country have designed their products to meet their customers one-off, unexpected and emergency expenses.
Typically, CPLA member companies lend these small sums to their customers for a period of 1-14 days, with the repayment date on the borrower's payday from regular employment.
In exchange for the loan sum, the borrower writes the lender a post-dated cheque for principle plus interest and fees, dated on the next wage payday.
Therefore, to qualify for a cash advance in Canada, often the requirements include steady employment and a bank account, but not a credit check, which is why even Canadians with bad credit but with a steady job can apply to get a payday advance.
CPLA membership list is published in the association's official website, and contains the following companies:
companies have made a commitment to follow the associations best
practices principles that are aimed at the best quality customer service
and reliable lending.
Out of the member companies, the three largest payday lenders in Canada in term of outlets are MoneyMart (454 stores), Cash Money (131), and Cash Max/Cash Converters (78).
There are also several online payday lenders with no physical stores at all, including DollarsDirect, PayCheck Plus, and Red Leaf Loans.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
| Terms & Conditions | Copyright 2012 © Vippi-opas.com