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Payday Loans in Regina

Regina, or the Queen City as it is fondly known, is the provincial capital of Saskatchewan. Being the capital, Regina is a centre of business and commerce. With so many Sasks being in debt, the residents of Regina are not left out.

Even if you budget your monthly income, it can happen one time that unforeseen circumstances affect your cash flow and you are left with less money to sustain you through the month. Hospital bills, a car that breaks down, or any other financial issues might leave you in need of quick cash. When that happens, consider short term loans such as payday loans in Regina. Although you will pay $17 per $100 borrowed, you will enjoy the convenience of a fast loan with no papers and no unnecessary questions. You are also guaranteed payday loans in Canada even when you have a bad credit history as long as you have a stable job and stable income.

Read on to learn more.

Do You Qualify for Payday Loans in Regina?

Are you at least 19 years old and have had an income for at least the last three continuous months? If yes, then you are eligible for online payday loans in Regina. While some lenders will ask that you earn at least $800 every month, have an active chequing account, be a resident of Saskatchewan, and many more requirements, most lenders only need proof that you can pay the instant cash loan at the end of the month.

It is not uncommon to find a lender that offers payday loans with no bank statement in Canada and another that offers safe, quick approvals even for residents of other provinces. One thing is, however, common for all safe instant loans, there are no minimum credit score requirements. To get approval for instant loans, the lender might perform a credit check, but the instant decision will not be on the basis of your credit score.

Where to Find Online Payday Loans in Regina

In 2010 when the Saskatchewan started regulating payday loan places, there were only eight lenders with a payday license. Afterwards, hundreds of lenders have come up. All these lenders are governed by the Financial and Consumer Affairs Authority and are required to follow the rules and payday loan regulations set in the Payday Loans Act.

While you could just search for “payday loans in Regina, SK” and pick one among the many lenders for online loans, you need a licensed lender with a relatively low cost of borrowing.

Check Licensing before Applying for Payday Loans in Regina, Saskatchewan

Unlicensed lenders will expose you to scams online. As such, before you apply for payday loans in Regina, Sask., consider whether the lender has a license to provide short-term loans. The Payday Loans Act requires that lenders display their payday license number and APR on their businesses. As a borrower, you can take the license number and call the Financial and Consumer Affairs Authority to confirm the validity of the license.

Any unlicensed lender providing online payday loans in Regina will face legal action. Before a new license is offered or an old license is renewed, FCAA ensures that a lender follows all rules and regulations as required. Some simple rules include:

  • A lender will not charge more than $17 per $100 borrowed
  • A lender will not contact you so many times that you feel harassed
  • A lender will not roll over quick funds loan or approve a new loan before the outstanding loan is fully paid
  • A lender will inform you of your right to cancel quick loans within 48 hours after the funding process
  • A lender will not communicate to anyone else about your loan besides you, your lawyer, the court, a collection agency, or someone you appoint
  • Ask you to clear a loan before your next payday

These rules (among others) keep you, the consumer, protected from predatory lenders. Lenders with bad financial practice risk de-licensing or a huge tax penalty.

Apply for Payday Loans in Regina, Sask. on Loans Geeks

When you need a financial quick-fix on short notice, emergency loans are your best option. However, the process of vetting hundreds of lenders might take so much time – first, you check that the fast cash advance lender is licensed then you compare lenders based on their fees. To make the process easier for you, Loans Geeks has listed all licensed lenders based on their interest rates and their reputation.

You can see different types of online loans in Loans Geeks, including car loans and payday loans on disability income. All you need to do is enter the loan option you need, and then Loans Geeks will connect you to the right lender.

Payday Loans in Regina, SK: Application Process

With a lenient eligibility criterion, all you need to get easy cash advances is fill an online form (which takes less than five minutes) and wait to sign your loan agreement online. Some of the details you might need to enter online include:

  • Personal information such as name, date of birth, social insurance number, and a form of identification
  • Employment details including employer, income, employer’s contact details, and pay cycles among others
  • Contact details such as email address, home address, and phone number
  • Bank account details

Today, you can apply for payday loans with no credit check in Canada. If you have a bad credit history, unlike traditional lenders, money lenders online will approve your application.

Payday Loans in Regina, Saskatchewan: Late Fees

Payday loans in Regina, SK, will help you take care of your financial needs, but they are expensive and short term. Immediately you take care of your short term loan needs, you need to start making payment. You can make an advance payment through direct deposit to avoid delinquent accounts, or you can use a post-dated cheque or pre-authorized debit.

Whether you made online applications or applied through a nearby payday loan store, online payday loans in Regina need to be paid by the next payday. Failure to pay:

  • The lender will apply a default fee, and the interest on the amount borrowed keeps growing
  • The bank might charge you an insufficient funds fee where a post-dated cheque or pre-authorized debit are involved
  • The lender might sell the loan to a collection agency which might seize your property if they successfully sue you

If you default for more than a month, your debt might grow out of control. To avoid the debt going out of your grasp, negotiate fees down with the lender, take part-time jobs, borrow from your savings or RRSP accounts and pay the loan on time.

Conclusion

Payday loans in Regina, Saskatchewan, are convenient, which is why they are so attractive. However, it is these, among other personal loans, that have driven Saskatchewan residents into debt. When budgeting for your money, consider emergencies to stay out of debt.

5 Fun Things to Do in Regina

  1. Visit the Stone Hall Castle
  2. Learn the History of Canadians at RCMP Heritage Centre
  3. Have a good time at the Royal Saskatchewan Museum
  4. Experience Nature at Wascana Center
  5. Tour the Legislative Building of Saskatchewan

Map of Regina

Regina Travel Ideas (Video)

Frequently Asked Questions

How do payday loans work in Regina?

Payday loans in Regina, Sask. are short term loans to be repaid within two weeks or the next payday.

How to get out of payday loans in Regina?

To get off payday loans, you need to budget your money accordingly, including leaving some money for emergencies. Pay your bills and your loans on time to grow your credit score and access loans with decent interest rates.

Who does payday loans in Regina?

Payday loans are accessible from online money lenders and payday loans storefronts.

How to consolidate payday loans in Regina?

Find a lender on Loans Geeks willing to consolidate your loans for a relatively low-interest rate.

Who uses payday loans in Regina?

Payday loans are ideal for you if you have a bad credit history and cannot get loan approval from traditional lenders or if you need a loan within a few minutes.

Which payday loans are easy to get in Regina?

Payday loans from lenders online and in stores are easy to get – all you need to do is fill a form, and your loan is processed within 30 minutes.

Who does payday loans without a bank account in Regina?

Most online lenders will approve your loan application without a bank account. Check for payday loans with no bank statement on Loans Geeks.

How many payday loans can you get at one time in Regina?

A lender can only approve for one loan at a time. However, you can apply for payday loans from different lenders at the same time.

How do payday loans check your credit in Regina?

Most lenders will ask for your social insurance number to automatically check your credit score online using software that communicates with credit reference bureaus.

How do payday loans affect credit in Regina?

Any debt not paid on time will appear on your credit report. If you pay on time, however, you will build your credit history.

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