Choosing A Payday Loan Substitute
Payday loans are very popular because they are easy to obtain and are very fast to become approved. The problem with this type of loan is that the money is usually paid back with the next paycheck the borrower receives. This is difficult for some and they search for a payday alternative that offers a longer repayment plan. Many people work with get a quick loan because this brokerage offers a payday alternative loan. The minimum repayment period is 3 installments, so the payments are smaller and easier to handle. These loans are perfect for those who find themselves in a financial struggle due to an unexpected bill or repair. It is very helpful because approval time is so quick and once the applicant has become approved, the money is deposited into their bank account within 24 hours. These loans are available to those who qualify, regardless of whether they have good or bad credit.
Qualifying for this type of loan is quite simple. The applicant must be a resident of Canada and be at least 18 years old. They must be set up for direct deposit by their employer and they must have a monthly income that is over $1200. The applicant must have a stable job and they need to have worked there for at least 3 months. They need to have a low short term debt ratio and cannot be on the brink of bankruptcy. One can choose to complete an online application with captain cash and can become approved very quickly when using the e-signature option.
There are some people who will not qualify for this type of loan. Those who are self employed are not eligible for this type of loan. Social security, private pension, disability income and child tax will not be considered valid income sources. It is a good idea to visit captaincash.ca in order to learn more about this specific type of loan. There is a lot of great information available. It is also possible to contact this brokerage service by phone, email or in person. Their experienced staff would be more than happy to assist with any questions or concerns.
Payday loans need to be repaid very quickly and this can pose a problem for a lot of people. It is much easier to obtain a payday loan alternative through captain cash because they provide more flexible repayment options. This helps to keep the loan payments at a more affordable range and will give the borrower a bit more time to get back on their feet financially once again.