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What-are-payday-loans

What are payday loans?

Guaranteed payday loans Canada is a type of short term loan where you can easily borrow a small amount of money. These are unsecured payday loans which mean that you don't need to tie up into securities and agreements. Such short term payday loans Canada are very like a boon for those who are facing emergencies and need a quick source of cash until they have been paid. Payday loans Canada are generally available from C$100 to C$ 5000.

Why-use-payday-loans

Why use payday loans?

People in Canada usually take payday loans to pay for their emergency expenses. The Canadian Payday Loan Association report, that nearly 2 million Canadians take payday loans per year. Some expenses are:

  • Urgent home repairs, car repair, or boiler repair.
  • Covering emergencies like sudden surgery, treatment, or vet bills.
  • Need to pay essentials bills, or unexpected month expenses.
  • To avoid late payment charges on bills.
  • To something special and important.
Payday-Loans-Direct-Lenders-Canada

Payday Loans Direct Lenders Canada

Payday Loans Bunny® is one of the best online portals where you can get payday loans with direct lenders without the involvement of a broker. Here you can get a wide collection of direct lenders for your online payday loans. Your single loan application is forwarded to hundreds of topmost payday loans direct lenders in Canada which will give you a better chance of finding the perfect credit you are looking for. Our customers rated us 4.0 stars out of 5 for best customer support, easy to use, value for money, and flexibility. Be with us, you are in the right place!

Are payday loans for bad credit available?

People with imperfect credit scores can easily apply for payday loans for bad credit; this is why more and more people are interested to apply for it. All know that if you have bad credit then traditional banks can't accept you for a loan. This means that having a lower credit score is totally against the high street lenders rule book.

You might have missed payments in the past or default on a loan that directly affected your credit score. The only reason why you should apply for payday loans for bad credit with instant approval is that you need emergency funds.

Do you face a dull financial situation? Need funds to pay electricity monthly bill? Or you need money for special purposes? Whatever your reason is, you can always find payday loans online for bad credit direct lenders at Paydayloansbunny.ca. Our lenders endorse responsible lending and offer easy loan application. If you have the potential to bear the burden of your loan, you get approval from us. No matter what your credit score is.

Apply for payday loans online Canada

We know that if you are struggling in emergency financial position, you try to find a best solution as soon as possible. This is why we commit to make sure that the loan application process must be fast and easy.

In order to make your application for payday loans online with instant approval, we will need the following information from your side such as:

  • Must be a Canadian resident,
  • Your age must be 18 year old,
  • Must have an valid and active bank account,
  • You must be permanent employment or through receiving some form of disability/living allowance or a pension.

Once you give us the above details, we will immediately process your payday loans online Canada application as soon as possible. Our lenders conduct the soft credit check which includes reviewing your personal information, your financial details, and credit score (Don't worry!).

We take your banking details to ensure you get funded without any problem. Your payday loan applications are approved based on your ability to loan repayment, not on your past credit score.

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Do-you-offer-instant-payday-loans-Canada

Do you offer instant payday loans Canada?

Yes, it is in highly demandable! One of the best benefits associated with instant payday loans online is that you can receive your cash more quickly as compared to other loans.

At Payday Loans Bunny®, our teamwork 24/7 to ensure that our clients get their money as quickly as possible. If you are submitting your loan application at 3 pm, you could get your money by 5 pm on the same day. This is possible because of the right tuning between our team and our lenders. The timing of receiving funds might be varying as per your banking system.

How-do-payday-loans-differ-from-other-types-of-loans

How do payday loans differ from other types of loans?

Payday loans online same day are different types of loans from others. These loans are short term and designed to tackle the emergency financial situation. With guaranteed payday loans no matter what Canada, you can borrow up to C$5k, with repayment period from 3-12 months.

You don't need to indulge yourself in lengthy paperwork and long-queued process of applying for a bank loan. Even you don't need to accept the lengthy repayment plans for years. Instead of this, with e-transfer payday loans Canada, you will get your funds within a few minutes and you can immediately troubleshoot your financial crisis. Once you get your pay-check, pay back your loan. Simple like making noodles!

Are-payday-loans-right-for-me

Are payday loans right for me?

If you use these short term loans with responsibility, these might be very helpful! Such online payday loans instant approval can be very useful in an emergency as it provides essential funding to deal with odd conditions. Millions of Canadians take payday loans every year and by using them properly, they cover up all financial odds.

Before you consider applying for guaranteed payday loans Canada, choose the loan amount as per your ability of repayment.

Those who need cash immediately pay for their unexpected expenses like car repair, home repair, or something else important, it is better to take the benefits of such short term payday loans and quickly come out from the struggle.

Payday-loans-and-responsible-lending

Payday loans and responsible lending

At Payday Loans Bunny®, when started to review the applications for payday loans, we treat them all responsible. Our aim is always to:

  • Always treat our customers fairly.
  • Be transparent and secure.
  • Only offer payday loans to those people who can afford them to repay.

Nowadays, due to some fraud payday loans websites over the internet, payday industry reputation is going down. We are trying to change that by offering the best customer support and responsible lending.

What types of checks are done on payday loan application?

To approve your payday loan application, we run few soft checks, including:

  • Credit Score Check: We run soft credit checks, but don't worry it doesn't affect loan decision.
  • Employment Check: We only lend to those who are employed, or receive some types of benefits.
  • Affordability Test: Yes, it is very important factor for responsible lending. We check at what you borrow with what you can actually afford to repay on time.

We also offer flexible repayment plans which allowing you to pay back your payday loans in easy small repayments rather than in one huge single payment.

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Payday Loans Bunny FAQs

Why should I look for a guaranteed payday loan in Canada?

Guaranteed payday loans allow all credit type borrowers to get quick cash in Canada. Once you fill out the online form, the lender verifies it and the amount up to C$5k is available to you. Whenever you are stuck in a situation where you need instant financial aid to help you pay off your debts? Check out the Bunny™ where you get the "payday loans near me" for financial aid quickly.

What are the best payday loans near me?

Just like a BFF is the one who comes in handy in trouble, similarly, the best loan is also the one that helps financially. Money can lift you high as well as hit you ground, and when you try to enjoy life an emergency has come. With a good credit score, you can get a cash loan with ease. Whenever, you are feeling hopeless due to bad credit and a strong need for urgent cash loans. Thankfully, no-credit-check payday loans 24/7 will help you out of that situation in Canada.

Are direct payday loan lenders a definite solution to solve fiscal emergencies?

The thing is that everyone looking for a loan will first directly think about the loan stores. At stores, you face struggling and many rejections to manage finances due to bad credit scores. And, you find yourself in a helpless situation where you are unable to arrange instant loans. Online direct payday lenders give you a monthly boost by providing you with no refusal payday loans. These online payday loans only are mainly for bad credit people who can't meet their needs. At Bunny™ you don't waste your time and can send offers online to direct lenders by sitting at home yourself.

Why should I choose an online payday loan with bad credit?

Often you find yourself struggling to manage your finances. Whenever you need money, not all your loved ones can lend you. If you apply for loans, fail because of a poor score. It is a terrible feeling for everyone. For that moment, when the problem seems insurmountable, there's a solution: Guaranteed payday loans no matter what in Canada. These are the perfect solution for those conditions when you want to buy something without waiting for a paycheck. You can access online e-transfer payday loans anywhere with internet access. There are several additional benefits of getting these loans that make it a smart idea - such as:

  • Extremely convenient.
  • Fast loan process.
  • No credit check is required.
  • You can take money for any reason.
  • There is no penalty for prepayment of the loan.
  • Its e-Transfer service is a safe and secure way to borrow money.

What Do I Need for an Online Payday Loan with Guaranteed Approval?

Nothing! You don't need anything for the guaranteed approval of Online Payday Loans. For sanctioning the fund, the borrower simply has to assure the lender that he can repay the amount on time. As this is an unsecured loan, even bad credit scores can't stop your approval process. One thing to mind is that not all online lenders are trustworthy. In the market, some less good-hearted people are sitting to exploiting your fragility and desperation. These scammers take interest in using abusive practices like charging high-interest rates.

How do I get payday loans if I am unemployed on benefits in Canada?

A payday loan is also called payday advances, salary loans, payroll loans, or cash advance loans. The term "payday" refers to when a borrower receives instant loans against a post-dated check from the lender. If you want to get a payday loan ODSP, you only need to have the ability to repay the debt amount. So, even if you are unemployed and you manage your expenses with the help of social assistance. As per the concept of a payday loan, you can show government benefits check as regular income. Repayment of the loan amount that accepts social assistance in Canada is directly linked to the welfare recipient's regular check.

How will I get out of a payday loan cycle?

However, you can never get caught in the debt cycle. A good payday customer considers his/her responsibility for regular payments to keep themselves away from the debt cycle. Even after that, unfortunately, stuck in the debt cycle, then there can be two main reasons behind it. The first is your wrong lender selection, you have chosen a very high-interest rate loan that is beyond your budget. The second is forging lenders; you have fallen into the trap of scammers. For the solution to a high-cost loan or debts consolidation, you can go for low-income installment loans. To avoid any scams or suspected scams, contact the Canadian Anti-Fraud Center (CAFC). You can also go to your Provincial Consumer Protection Agency to file a complaint.

I want to pay off the rest of my payday loan, any advice or suggestions before I do so?

If you want to pay off the rest of your payday loan then it is an honor for you as a borrower. Thinking about paying off your debt shows that your personality is responsible and sensible. If you are facing any problems in repaying the loan, Bunny™ has recommended some possible solutions for you. You can choose your way out from the suggested exits according to your situation:

  • In need of help to pay off online payday loans, the first thing to do is ask your lender about an Extended Payment Plan (EPP).
  • To meet a need of a few thousand dollars you can take public transportation for a while or sell items you no longer need.
  • You can dive into the gig economy, a side gig or part-time job will help you pay off your loans faster.
  • Take advantage of your savings, as the interest rate and repayment fee amount on the loan taken by you may exceed your savings in the long run.
  • Ask family and friends for financial help, keep in mind money is known to damage relationships, so go with it carefully. Advice: Ask for as little as possible and keep ready a plan for how you will repay the amount.
  • If for some reason you do not qualify for a debt consolidation loan, a debt consolidation program may be an option. A certified credit counselor will work with all of your unsecured loans creditors to help pay off your debt and reduce or stop interest.

What will happen if I default on a payday loan?

If you default on payday loans, the lender will usually try to withdraw the payment from your bank account. If the lender does so, you will have to pay an additional fee to both the lender and your bank. If this doesn't work, the lender can take several steps to collect the debt.

Failure to pay off payday loans for a longer period leads to several serious consequences, including:

  • You may face additional charges, it all depends on the state where you live and who's the lender.
  • Lenders can turn to a third-party debt collection agency after about 60 days. The agency will make regular calls and send you letters, with collection efforts far more aggressive than your lender.
  • If you fail to repay this unsecured loan on time, you will see a drop in your credit score.
  • The collection agency will take you to court, this may liens against your property and even wage garnishment.
  • A payday loan default can make it harder for you to get an approved for second chance loans.
  • Failure to repay a payday loan is not a criminal offense in Canada. Still, if you receive threats of arrest or jail from the lender and debt collection agency, be sure to consult your state's attorney general's office immediately.

Will payday loans charge hefty fees? How do they make money?

Payday loans are seen as predatory lending and high-risk financing in the market due to scam lenders. While the picture is different, payday loans in Canada are regulated by FCAC. We at Bunny™ provide you with trusted online direct payday lenders that best suit your budget and needs without any charges. Bunny's source of income is not his valuable visitors; instead of we get commissions from the lender against every approved application.

How many payday loans can I have at once?

In most Canadian provinces, consumers who already have a short-term loan can't apply for a second cash advance from the same lender or a different lender.

Six out of 10 provinces whose governments have completely outlawed payday loan rollovers and extensions even in 2022 are:

  • Alberta
  • British Columbia
  • New Brunswick
  • Nova Scotia
  • Ontario
  • Saskatchewan

How do I stop myself from getting payday loans?

When it comes to borrowing funds, payday loans, despite being a very expensive option, are the first option everyone thinks of. However, the good news is that with some careful planning, you can consider these options before getting an e-transfer payday loans Canada 24/7 approval with no credit check.

  • Try getting a new credit card. The cost of using a credit card is about 20 times less than taking out a 14-day payday loan.
  • Prepare a personal budget, which includes all your weekly and monthly expenses and other financial obligations.
  • Share your condition with friends or family, talking may come up with some solution that is not coming to your mind due to your emotional state.
  • Ask for payday loan help only when you need it the most or all avenues for getting money aid are closed.