Canadian Payday Loan Service

Payday Loan Service - No Hassles!

No application fees! No hidden fees! No credit checks! No credit bureau reports! Payday Loan Service is committed to providing you with a completely confidential and secure payday loan application process. At the forefront of our industry, Payday Loan Service is a trusted name that countless individuals just like you have turned to for a hassle-free loan until their next payday: Online and faxless!

Do you qualify for an online payday loan program? The main requirements are that you be at least 18 years old, maintain a steady source of income, and have a system in place for direct deposits with your bank. If you meet these requirements then you are already on your way to being approved for a payday loan.

What does an online payday loan mean?

A payday loan is a short-term loan solution that provides you with short-term extra cash you need to cover your expenses, whether they be expensive bounced-check fees, late bill payment penalties, bills, medical costs, debt payments, or other short-term financing needs. Whatever the case, the payday loan is secured against your future income in the form of your paycheck. Payday loans are inappropriate for long-term financial obligations.

It is called an online faxless payday loan, paycheck loan, payday loan, payday advance or a no fax payday loan, because the application process is online, quick and easy, with, in most cases, no faxes for you to send. Payday Loan Service Canada doesn't do credit checks or credit bureau inquiries, and your information is kept confidential.

If you are looking for an online car loan to finance that used or new car you wish to buy, don't forget to give our friends at New Auto Loans Canada a try.

Consumers are Protected: General Background on Payday Loans

There are many payday loan lenders to choose from, and that number is increasing all the time due to the popularity of the method and the profitable return rate to be had from making short-term loans. The entry of so many new companies into the business has led several Provinces in Canada to put in force laws designed to prevent the exploitation of payday loan customers by industry.

The main step was taken in 2007 when the Canadian Senate and the House of Commons passed Canadian Bill C-26, a law permitting individual provinces to cape interest rates on payday loans. The bill was designed to exempt payday loans from criminal sanctions and permit provincial regulation of the payday lending industry.

With over 2 million Canadians using payday loans every year, the Provinces of Canada have starting passing bills to regulate the industry, primarily governing the maximum size of the loan taken until the next payday, the maximum fees that may be charged, rollovers (if any) and the duration of the payday advance.

No matter which province you reside in, there are laws to protect the consumer from succumbing to long-term debt. This equitable balance between lawmakers and industry allows consumers access to payday loans without fear of getting in over their heads financially. Borrowers are encouraged to keep in mind that payday loans are expensive high interest rate loans that should not be used to address long-term financial obligations.

Why wait to take care of those bills? Why let them pile up even higher? Shouldn't you apply now for your online payday loan now?