Welcome to Payday Loans Alberta.
What is a Payday Loan?
A payday loan (also called a paycheque advance or payday advance) is a short-term loan provided by a non-traditional lender, for a relatively short period of time, usually until the borrower's next payday. The average payday loan is valued at $200-$500, though it may be as low as $100 and as high as continue reading about what a payday loan is ...
Payday Loans Help Millions of Canadians
Payday loans are used by hundreds of thousands of Canadians every year. In fact, loans until the borrower's next payday are used by 1.5 million Canadians each year. These loans are short term loans that provide the borrower with cash to pay expenses until their next payday. The due date for these loans is usually around two weeks, coinciding with the borrower's pay cheque cycle. Payday loans are not designed to help with a large amount or long period of time. These loans are often small in amount as well as time. The average loan until payday is continue reading how payday loans may help you ...
Payday Loans for People with Bad Credit.
Payday loans are great when you need cash fast. For many people who have bad credit it can be difficult to get any kind of loan. Payday loans are for short periods of time. They are often due after one month of opening credit. It is simple to receive a payday loan because they link to your current checking account. When the loan is due, the continue reading about bad credit payday loans ...
Alberta Payday Loan Regulations.
The government of the Province of Alberta, effective the 1st of September, 2009, introduced as part of the Fair Trading Act a new regulation governing the rules for payday lending in Alberta. For the purposes of this regulation and for the Province of Alberta, a payday loan is a loan that is equal to or less than $1,500 and the term of the loan cannot be greater than 62 days. All payday lenders who offer, arrange or provide a payday loan to a borrower in Alberta falls under the Payday Loans Regulation. The regulation is applicable to payday lenders who operate from a physical address in addition to payday lenders offering payday loans via the Internet to residents of Alberta. Alberta payday loan regulations - read more ...
Best Payday Loans - When Not to Use
Although payday loans provide a viable alternative source of short-term emergency financing, there are times when payday loans, regardless of whether you are in Alberta or elsewhere in Canada, are not the best choice of funding. Always seek alternative financing sources that may have better terms and conditions, than a payday loan. Don't use payday loans for your long-term cash needs or as a source of extra cash to go out for dinner or to purchase a new TV, but only for very short-term emergency borrowing requirements. Read more about when you should consider alternative financing to Best Payday Loans ....