100+ Canadians Choose Us Weekly – 1000+ All 5-Star Reviews – Read real stories here

Learn how to reduce your debt by 50-80% within 5-7 days

Free Debt Consolidation

No contact details required to find out if you qualify

Free Savings Estimate

Get Started

How it Works

Know More

Debt Relief Options

See Your Options

All You Need To Know About Payday Loans 2023

Payday loans are typically a small amount type of unsecured debt and are paid in a short-term (14-day) period. It became popular due to their easy approval system and easy access by people who need immediate money payable by the next payday. If you are experiencing problems with payday loans and/or any unsecured debts in general – we can help you create a debt relief program.

Know more about us and what we can do by clicking on the button below…

You're not alone

Helped with $ 27,000 $ 41,500 $ 35,000 $ 17,000 $ 23,500 $ 46,340 $ 21,000 $ 35,000 $ 26,700 $ 65,500 $ 57,400 $ 17,500 $ 75,500 $ 63,000 $ 35,000 $ 18,500 $ 55,000 $ 85,500 $ 43,000 $ 29,500 $ 27,800 $ 41,200 $ 35,800 $ 85,000 in debt

1 day 3 days 3 days 8 days 7 days 6 days 12 days 9 days 3 days 6 days 1 day 4 days 2 days 1 day 7 days 5 days 8 days 6 days 12 days 16 days 5 days 8 days 2 days 7 days ago in debt in

Orillia Huntsville Peterborough Toronto Brampton Kitchener Mississauga Hamilton Belleville Kingston Cornwall Oshawa Ajax St. Catharines London Sarnia Windsor Sault Ste. Marie Elliot Lake Sudbury North Bay Timmins Thunder Bay Ottawa

Payday Loans

According to section 347.1 of the Canada Criminal Code, all lenders in Ontario should hold a license to operate under the Ministry of Government and Consumer Services before they can provide loans.

As per the Payday Loans Act, to protect debtors, lenders must:

  • Provide a contract with complete information including the amount being borrowed, the term of the loan, and the cost of the loan.
  • Not be allowed to do automatic deduction towards the borrower’s paycheck.
  • The service charge must not go beyond $15 for every $100 amount borrowed.
  • Not be allowed to sell extra or additional services along with a payday loan.
  • Must allow cancellation of the contract of the payday loan within two business days without charging an additional penalty.
  • Not lend more than 50% of the debtor’s salary.
  • Not call the debtor more than 3x a week.
  • Not contact relatives and friends of the debtor.

Requirements to Get a Payday Loan

Payday Loan Requirements

Other loans may require you to undergo a background check first, with payday loans the same is not required. The lender will only need the following:

  • Checking account
  • Proof of address
  • Proof of income for the last 3 months

What to Do Before Taking a Payday Loan

  1. Make sure that the lender possesses an Ontario License and is displayed in their premises. For online transaction, you should see their license in a digital format through their website. You can search the Ministry of Government and Consumer Services, Licensing, Inspections, and Investigations Branch online database to confirm their license.
  2. Know the costs of the amount you are intending to borrow.
  3. You should be able to pay the loan on the due amount.
  4. You should also know how much it will cost you and the consequences if you can’t repay.

Can’t Pay Your Debts Including Payday Loans?

Payday Loan Help

If you are struggling to pay your unsecured debts such as Credit Cards, Personal Loans, Car Loans, Taxes, CERB, HST, 407, Household Bills, Payday Loans, and Student Loan; there is help available.

At National Debt Relief Services, we value our clients’ information. All communication and information are secured and confidential. We offer a free consultation for Canadians with over $10,000 worth of unsecured debt.

We will help you create a personalized debt relief and consolidation program that will eliminate your debt fast and legally. Our expert debt specialists will help you understand all the amazing benefits of this program and by taking advantage of our free consultation – we will donate $1 to Sick Kids in Ontario.

Our Clients 5-Star Reviews

Mandy Shier
Mandy Shier
Read More
Connie was truly amazing through this whole process, she helped me understand what will be going on, walked me patiently through everything, she has a heart of gold and genuinely a beautiful soul, thank you Connie!!
Yisa Ogunremi
Yisa Ogunremi
Read More
Allicia has done wonderfully well,she was highly professional in all our discussions to the last day of signing the documents, i feel relieved now. Thank you so much.
Chris V
Chris V
Read More
I would just like to thank Suma for really making feel comfortable throughout this entire process. Everyone tells you to watch out for gimmicks, quick fixes, and everything else that comes with Debt. Ive had other companies who had made promises and under delivered. However Suma and her team are quick to provide the right answers and guide everyone in a way towards better credit. She has made it seamless with great communication and availability. I have personally referred her to several of my closest friends and i would recommend her to anyone else looking for consolidation.
Previous
Next

Top 5 Key Benefits of our Ontario Debt Relief Program:

To know more what you can benefit from our Ontario Debt Relief Program, simply try our Debt Consolidation Calculator below and one of our debt specialists will get in touch with you and provide you the best debt relief option that fits your situation.

Do you want to experience Peace of Mind from all of these?

  • Credit Card Debts
  • Personal Loans
  • Car Loans
  • Taxes
  • HST
  • 407
  • Household Bills
  • Payday Loans
  • Student Loan
  • and more…

Talk to us! We will help you get out of debt.

We will help you reduce as much as 75% of your debts and consolidate it into a single affordable monthly payment. Your creditors will stop harassing you and all interest will freeze if you get into our Ontario Government Debt Relief Program.

Many Ontarians are already benefiting from our Debt Relief Program, YOU should too!

Find out how much you can write off portion of your debts by getting your Free Savings Estimate below. A debt specialist from National Debt Relief Services in Ontario will discuss all options and provide you tailor-fitted Debt Relief Program.

We will help you compare
the options and savings of all formal debt relief programs available to you.

SEE IF YOU QUALIFY TO:

No contact details required to find out if you qualify

Frequently Asked Questions

A Debt Consolidation is a negotiated debt settlement offer made between you and your creditors with the help of a Debt Relief Agency in Ontario. Some key benefits of Debt Consolidation are interest-free program, no upfront fee required, combined monthly payment into one affordable amount, no lawsuits, and many more.

Yes, your assets are safe from creditors. A licensed debt relief agency in Ontario will help you come up with an offer to your creditors that will make sure your assets will be out of the paper.

No, in fact, this is one of the great advantages of a Debt Consolidation Program. All wage garnishment will stop from the day you filed the proposal.

The effect on your credit score is not going to be severe. Your credit score will most probably go to R7 Rating and will remain in your credit report for another 3 years after you completed the program. This means that it will not be permanent and you will still be able to rebuild your credit score.

 

This varies depending on the proposal you will be discussing with the help of a certified debt relief agency. It is also worth noting that debt consolidation cannot exceed more than 5 years.

If a debt is shared, you need to file a joint debt consolidation offer to your creditors. However, in most cases, in which the debts are individually incurred will have no impact on your spouse.

After three missed payments, your debt arrangement with creditors will be broken and you will end up getting chased again for the original debt amount plus interest.

A debt consolidation offer can be paid off earlier if you can. In this way, you receive your “Certificate of Completion” sooner and you can immediately start rebuilding your credit score. 

National Debt Relief Services Ontariois a certified Canadian Debt Relief Agency that offers FREE CONSULTATION to your debt consolidation needs. We value the trust given to us by our clients by making sure your personal information is confidential and private. Our personalized plans are designed to tailor fit your financial capacity. Our specialists will get in touch with you by simply answering a few questions thru the link provided below.

Why Trust National Debt Relief Services?

Debt relief program's accreditation logos
Council for Economic Education

Proud to support financial literacy education

See What Our Customers Have To Say

We Help Over 200+ Ontario Clients Per Day

We're here to help you consolidate your debt.

Get a free savings estimate today. There is no obligation.