Loan Mount Pleasant
A Few Payday Loan Facts
A payday loan is an unsecured loan not dependent on collateral such as a car. They are short term in nature due to be repaid on your next payday.. You can apply online and the money loaned can be credited into your bank account on the same day.
Getting Approved For a Payday Loan
Many payday loans are available online so there is no delay with the documents. You answer questions about your banking details your income where you work how long you have been employed there when you get paid next how much money you need and so on.
Payday loan providers make their decision to lend you money based on the amount you want to borrow compared to the amount you earn. Only borrow what you need the less you borrow the more likely that your application will be accepted and the smaller the amount of interest you will accrue.
Most successful payday loans are dealt with by email using documents showing how much was borrowed repayment terms and interest you will owe. You will also receive loan conditions that outline your rights under the Consumer Credit Act. There will also be details about repayment cancelling the loan and the use of your personal information.
Regulation of Payday Loan Companies
It is advisable to check the company's credentials before committing to anything. They should be able to show you their Consumer Credit License. If you are in doubt about their legitimacy then you are within your rights to contact your local authority for further information.
If the payday loan company you are applying to is properly licensed there will be a government body to contact where you can get reassurance of fair practice.
The Reason APR Looks High on a Payday Loan Application
The APR applied to payday loans appears at first glance to be high. This might look misleading but the figures are high for a simple reason. APR Stands for Annual Percentage Rate meaning it is an annual calculation. However a payday loan is taken usually only over a few days or weeks.
Rather than relying on the APR rate it is more advisable to look directly at the loan agreement to see exactly how much interest you will be charged for the period of your payday loan. Also there might be a flat rate charged instead of percentage. It is advisable to look closely before signing anything to determine if you can make the repayment as per the terms set out in the agreement.
Mount Pleasant is a largely residential area with gastropubs and indie fashion shops on Main Street and chain restaurants in Cambie Village. It’s also home to specialist outdoor stores selling kayaks, bikes and ski gear. Edgy galleries dot the Flats, an emerging art district in an industrial zone, while Science World shows interactive exhibits and IMAX films in a geodesic dome.
Province: British Columbia
Hotels: Best Western Plus Uptown Hotel, City Centre Motor Hotel, MORE
Place ID ChIJI6554F5xhlQRBuVvIo-0v8A
Mount Pleasant, Vancouver, BC, Canada