Direct lenders one hour pay loans

Are you a cross-border resident, do you have dual nationality or would you simply like to make competition work to find the best rate? Are you looking to find out if it is possible to take out a loan abroad without proof?

We have the answers!

It is indeed possible to take out credit without proof in countries that are part of the European Union. It is important to know that the regulations around credit are European, only the filing at the Banque de France is not always taken into account by foreign banks.

However, this does not no teletrack 100 approval mean that the process will be easier! Thus, although the market is liberalizing, there are many drawbacks to take into account before subscribing to a credit offer abroad without proof.

Do you want to apply for a credit without bank proof?

Before embarking on the application process, it may be a good idea to make sure you have all of the necessary documents on hand.

Indeed, in order to save time, it is good to prepare a list of the required documents. 

Here is the list of documents deemed compulsory for the constitution of your file: 

  • A valid ID
  • Proof of address (electricity bill)
  • A bank account number

In addition, any organization has the obligation to consult the list of the central bank to verify that the borrower is not subject to a banking ban or an over-indebtedness measure.

A payday loan is a short term loan of a relatively small amount granted at a very high interest rate. You can borrow up to 30% of your pay as shown on your most recent pay slip, up to $ 1,500. The maximum amount that can be charged in interest charges is $ 15 for every $ 100.

Payday loans are presented as a solution to help you cover your expenses until your next payday. Although it may seem practical, this solution is extremely expensive. Before taking out a payday loan, consider the cost of borrowing and all the other choices available. Reassess your budget to determine if it can be changed to make sure you don't run out of money before your next paycheck.

No payday loan company may offer or arrange to offer payday loans to residents of New Brunswick without a permit. Online lenders must also be licensed and follow the same rules as storefront lenders. Contact the FCNB to confirm that a payday lender has the necessary license.

Before taking out a payday loan, consider other solutions. Tapping into your emergency fund, paying with a credit card, or borrowing from a friend or family member can be cheaper and safer than taking on new debt. If you take out a payday loan when your financial situation is difficult, you may be in more debt. You may want to consider other options, such as negotiating with your creditors, discussing overdraft protection with your financial institution, taking out a small personal loan or line of credit, asking your employer for a payday advance, or working overtime. 

In New Brunswick, the maximum you can be asked for on a payday loan is $ 15 for every $ 100 borrowed. A payday loan is a very expensive way to borrow money. When you take out a payday loan, you pay high fees, the interest rate is higher than on a regular loan or line of credit, and you may have to pay fees if a bad check or direct debit is rejected. Because of these high fees, it can be difficult to pay off a payday loan.

Generally, you have to pay off the payday loan at your next payday. However, you have the right to prepay or prepay the outstanding balance at any time, without additional fees or penalties. You can also make partial prepayments without additional fees or penalties, on any fixed payment date. You will have to pay the cost of the loan (maximum of $ 15 for each $ 100 loan tranche) even if you repay the loan before the due date. These terms must be clearly explained in all payday loan contracts.

There are rules to protect you when repaying a payday loan. These rules prohibit certain practices, including:

  • The lender cannot oblige you to assign in writing items belonging to you, such as your car or your house, for the repayment of a payday loan.
  • The lender cannot take, accept, or perform any obligation under the payday loan agreement as collateral for the repayment of a payday loan:
    • real estate or personal property (such as your car or home);
    • an interest in real estate or personal property;
    • a bond.
  • The lender cannot enter your salary. In no case can the lender make you sign a document allowing him to recover the amount of your loan from your employer.
  • A payday lender cannot contact your employer and is not authorized to join you at work.