A cash advance is a financial product designed to offer fast money for emergency situations. It is meant to be paid back in full on the date of the borrower’s next paycheck. Our site helps you try to find this type of funding, as well as larger loans that are paid back in installments.
Our loan request process takes only a few minutes to complete. While it is possible to ask for a loan online, you may need to visit a store after being connected with a lender.
The Internet is filled with cyber-criminals on the hunt for those looking for short-term loans in Canada. Here are some tips to help you stay protected from those acting in bad faith:
There’s no one-size-fits-all solution for a financial emergency. Consider your circumstances when figuring out how to borrow and pay back a loan. If you have a good credit score, then it might make sense to use a traditional bank loan. If your cash flow situation makes it possible to pay back credit card debt quickly, you may want to charge your expense.
Many loan customers end up choosing a short-term loan. Repeated use of this type of funding type is not an ideal way to address long-term debt, as over time it can increase the amount of debt owed.
The average Canadian owes over $20,000 in consumer debt. Paying off a debt that large can be a lot easier when you have a professional helping you shape your budget.
Those looking for ways out of debt will sometimes turn to a friend or family member for a quick loan. While this temporary solution may help you avoid interest fees while addressing emergency expenses, eventually you will need to figure out how to stay on top of your bills without monetary assistance. A credit counselor can show you where to start. They can help guide you along your road to recovery.
It all starts with creating a realistic budget that focuses on paying off your debts. Your credit counselor can help you figure out how to cut monthly expenses, improve your spending habits, and may even negotiate with your creditors on your behalf.
Nearly all loans come with a payment schedule. Whether you are expected to pay it off in full on your next payday or bit by bit over time through installments, your lending agreement should include information on how soon and how regularly you are expected to pay off your loan.
It is important not to miss a single payment. However, it might be advisable to pay your loan off faster than your pre-planned schedule’s due date, as this can help you avoid interest and may make the loan cheaper. Just make sure there are no prepayment penalties associated with your loan.
Try limiting any unnecessary spending to free up more cash to use toward your loan. You can pause luxury expenses, like paying for cable television, until after you have paid off your loan. During the life of the loan, you should make your monthly payment a top priority.
From Montreal to Toronto all the way to Vancouver, OpenCashAdvance helps Canadians find short-term loans. Our free-to-use request form aims to connect you with a reputable lender as quickly as possible. Those with good or bad credit are still able to use our free service. You can get started with the click of a button. It only takes a few minutes to fill out our safe and secure form.
A lender may offer you a closed-end form of credit referred to as an installment loan. This product typically has lower APR and longer terms than a cash advance. Your lender will set your exact terms, including the amount you can borrow. The lenders we work with have been known to offer up to $5,000 through an installment loan.
It is important to pay back your loan on time. Not doing so can cause serious damage to your credit score. It may also result in additional fees and even trigger a debt collection process. Even a late payment can significantly lower your score. Read through your loan agreement and make sure you understand all the consequences associated with missing a payment.
If you are unable to make a payment, your lender may offer to extend, renew, or refinance your loan product. Please understand that this may result in new charges, fees, and interest. Direct all questions about your loan to your lender. We are not a lender.