When you are looking for no employment loans, no verification loans or quick loans no employment verification because you are unemployed, you must remember that the lender might have his or her goals.
The lender is there in the market to earn a profit and ensure that his or her lending company keeps on going smoothly. So, you must ask yourself a few questions before blindly agreeing to whatever a lender demands in exchange for payday loans Canada or online loans Canada.
- What is the interest rate charged by the lender? Is it the same all around or a bit higher than the usual rate? Is the lender charging more than $15 for every $100 I borrow?
This question will let you know the exact cost of getting no checks done.
- How long do I have to pay back the payday loans no credit check no employment verification Canada? Can the deadline be extended? If so, at what cost?
This question will let you know how much time you have before you have to return the money.
- What information is being asked by the lender? Is my data secure on the website of the lender?
This question will let you know whether your data is at risk of being stolen or misused.
- What is the penalty I have to pay if a payday loan becomes overdue?
This question will let you know the total amount you may need to pay if you keep extending the deadline.
- Is the lender of Payday loans Canada trustworthy and has good reviews from previous borrowers?
This question will let you know whether the lender will resort to any unethical or illegal practices to get the loan back.
- Does the lender have a license and a good reputation?
This question will let you know whether the lender has the approval of the authorities and the people.