Cash Advance Canada

2011-05-07 - 13:40 | Canada Payday Loans, Cash Advance Payday Loan, Fast Payday Loans, Payday loan | Tags: , , , , , |

Applying for a cash advance Canada has been a common practice for many years now. These are particularly resorted to for dealing with instant medical emergencies or managing a temporary financial crisis. Therefore, these are most essentially meant to be short term loans. Most often, a cash advance Canada can be availed of for an interest rate of $23 to $25 per every $100 dollars which have been borrowed. However, the rates have been capped to a lowest of $17 dollars per $100 in Manitoba. Also, there has been a recent change in regulations pertaining to lenders providing cash advances in Canada. As per the current norms, all payday lenders need to possess a license for dealing in the same.

A cash advance Canada is also preferred by most because the procedure of landing one is extremely simple. When you visit the Serve U Cash website for a cash advance, you simply need to have an active checking bank account, a two month old job and a valid telephone number. All these vital inputs will be provided to you on the website itself. In addition, you will have to be at least 18 years old with an average salary of $1000 per month. And, a citizenship of Canada is a must. Once these criteria are fulfilled in entirety, you can avail of a cash advance Canada from ServeUcash. All it would need is filling an application form and the loan will be processed within hours.

Even if you have a bad credit score, landing a cash advance Canada is not a problem at all. Considering the fact that cash advances are most often resorted to for tackling immediate financial requirements, the norms have been kept fairly simple. More so, the government has also been proactive in cracking a whip on predatory lenders charging enormous interest rates in the name of quick cash advances. In various states across Canada, interest rates have hence been regulated suitably for convenience of borrowers.

Although a cash advance Canada is supposed to be paid back in full on your next payday or the due date agreed upon, borrowers most often default payments. Accomplished advance providers like ServeUcash will provide a roll over facility for the principal amount. The fee has to be paid on the due date however. Cumulative interest rates will now be applicable on the entire rolled over amount, which the borrower is expected to pay on his next payday. If you happen to forget your next due date for repayment, all you need to do is visit the Serve U Cash website and access your details. Alternatively, the website also provides a 24×7 toll free number for your convenience.

Although most cash advance Canada lenders will provide for a roll over option, most will advice against it. Ideally, cash advances should be settled within your next payday. When you continue to roll over quite a few times, the debt becomes unmanageable after a point. Sometimes, borrowers need to resort to desperate measures like seeking fresh loans from other borrowers for setting the outstanding amount. Such practices can place you into a vicious debt trap and should be completely avoided.

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