What if I cannot repay on time?
If you think you cannot pay on your due date, you can contact us before it; it costs nothing.
If you think you cannot pay on your due date, you can contact us before it; it costs nothing.
If a payment is missed
Only a missed payment can add anything to what you owe, and those amounts are limited by Ontario law.
One thing outside our control: your own bank will usually charge you its own NSF fee if a payment is returned. That charge comes from your bank, not from us.
The full terms that apply if a payment is missed are set out in your loan agreement, and in our Terms and Conditions.
What we cannot do
- We cannot roll the loan over. An Ontario lender may not extend or renew a payday loan, and may not lend you money to pay off an existing payday loan with the same lender. The rollover is the mechanism that turns a two-week loan into a two-year problem, and Ontario has simply banned it.
- We do not make a third payday loan within 63 days. Ontario law says that a lender that makes one must have it repaid in instalments, under an extended payment plan, at no extra cost. We do not make such a loan, so no loan from us is repaid under a plan.
How we can collect, and how we cannot
Collection on a payday loan is regulated down to the hour. We may not call you:
- On a Sunday, except between 1:00 pm and 5:00 pm local time
- Before 7:00 am or after 9:00 pm on any other day
- At all on eleven listed holidays
We also may not use threatening or abusive language, misrepresent the situation, or contact your employer other than to confirm your employment. If any lender or collection agency does those things, that is a complaint to the Ministry, and it is worth making.
What helps
- Contact us before the due date. If you think you cannot pay on your due date, you can contact us before it; it costs nothing.
- Do not take another payday loan to cover this one. With us it is prohibited outright. With another lender it is legal and it is still the single worst move available — two repayments, one paycheque.
- Get free advice if the problem is bigger than this loan. A non-profit credit counsellor accredited by Credit Counselling Canada will look at everything you owe, for free or close to it, and will not sell you anything.
