How to Choose a Loan
In today’s economy, it’s hardly surprising that Canadians find themselves turning to Lendee for short-term loans from time to time. In an ideal scenario, we’d all have sufficient savings to draw from when we hit a financial hurdle, but sometimes you need access to online payday loans to make ends meet. It is your responsibility to make sure that you have understood all the terms of a loan before committing to it. Finding the best financial solution depends on individual circumstances and requirements, so it’s impossible to give a one-size-fits-all advice on how to choose the right loan. Lendee is intended to help you out in the short-term, but should not be used as long-term financial solution. This means that if you know some money is coming your way, a Lendee Payday loan could be the right fit, but we don’t recommend using these types of loans as a permanent credit solution.
Loan Education Centre
If surviving from paycheck to paycheck or managing your debt load is a serious struggle, you may also want to consider meeting with a credit counselor. To support - not replace - the advice of a professional, we’ve compiled some helpful resources below. Come back often as this page is always evolving to serve you better.
Before applying for a cash advance, ensure you’re dealing with a licensed and reputable lender.
As a responsible borrower, it is important to know the costs of borrowing a payday loan as compared to other borrowing products
Whether you’re paying off debt, saving for a house, or planning for retirement, budgeting is key to achieving your financial goals.
Credit Counselling Canada gives you access to some powerful online and calculators.
Free credit counselling, budgeting help & debt consolidation options are available in Canada.
Want to know how you look to prospective lenders? For a fee, Equifax and TransUnion will provide you with your credit score
If debt collectors are after you, know your rights
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Questions you should ask yourself
- Do I need the cash for an emergency financial situation?
- Do I understand all the fees involved?
- Have I considered other possibilities?
- Do I understand that there are serious consequences to failing to pay back my loan on time?
Know your Rates
Make Sure It’s Affordable
Be realistic – can you pay back what you are about to borrow? Does it fit in your budget? Do you understand all the fees involved in a Lendee loan. Be careful not to borrow more than what you can repay and read carefully your loan agreement before signing it. We suggest that you use our rate calculator to borrow exactly what you need to put your finances back on track, not fall further into debt.