Frequently asked questions

We are often ask several questions, we grouped them here to help you.

Don't hesitate to contact us if you have more questions.

Online applicationOnline application
What is a variable credit agreement ?

The variable credit agreement is the contract by which a credit is granted in advance by a merchant to a consumer who may avail himself of it from time to time, in whole or in part, according to the terms of the contract.

The variable credit agreement includes the contract for the use of what is commonly referred to as a credit card, credit account, budget account, revolving credit, line of credit, line of credit and any other similar contract.

How do I apply?

You can apply online using the application form or you can call us at 1-888-952-6262. You can also email us at [email protected]

What are the eligibility requirements?
  • Be 18 years of age or older
  • Earn over $1200 a month of available income
  • Receive your income from an employer or from Employment Insurance Benefits
  • Be a Canadian Citizen
  • Be paid by direct deposit in a Canadian bank account
  • Not about to declare bankruptcy or to enter into a consumer proposal
  • Not to have an excess of non-sufficient funds transactions
  • Have a low short term debt ratio (other active short term loans)
Can I apply if I benefit from CNESST, IE, disability, pension or other such programs.

Yes, we accept clients that benefit from CNESST (formerly CSST), employment insurance, disability insurance, pension plan, etc. Certain conditions may apply, contact us to get more information.

I am self-employed, am I eligible for a loan?

We only accept people who are paid by direct deposit.

What are the rates and fees offered?

Lending companies with whom we do business offer:

  • An annual interest rate of 22% (APR)
How long before the money is deposited into my account?

If application is approved before 10:30am, you should receive the money from your credit margin before the end of the day. However, if the transfer is done after 10:30am, there could be a delay of 24 business hours before you receive the money in your bank account.

What are the reasons for which my application may be refused?

Your application may be refused due to one or more of the following reasons :

  • You have an un-discharged bankruptcy in your file.
  • You do not have a stable occupation.
  • The required documents are incomplete or the information on the forms is incorrect.
  • You have accumulated too many insufficient funds charges in your account.
What happens if I default on my loan?

If you fail to make your payments, our collection officers may terminate your installment plan and employ different collection methods to recuperate the money that is due. Installments that are terminated will collect interest on the unpaid balance of your loan. The borrower covers any legal fees required to obtain the balance. Any uncollected debts are pursued to the full extent of the law.

What is the I.B.V.?

The Instant Banking Verification (I.B.V.) is the most recent technology used by banking institutions. It provides a read-only version of your bank statement and confirms your information. Thanks to this new system, there is no need to send us documents we can approve your loan request even faster!

Is the I.B.V. safe?

The I.B.V. is the most secure technology on the market. It’s an equal level of security as what is used in the largest Canadian banks. This will never give us access to your password or username. All information provided along with your bank statement is kept confidential and will never be shared as mentioned in the variable credit contract.

Will you have access to my bank account once I complete the I.B.V.?

No, never! We will never have access to see your username and password. The IBV allows us to only view your bank statement.

Do I need to do the I.B.V. to complete my request?

This is the easiest way to apply because it is paper free. However, you can complete your request by Paper Application the traditional method. Should you choose to apply with this option, we will need your documents to validate your information. You will need to send us the following documents: ID card, pay stub, proof of residence, bank statement of the last 30 days and void check.

Do I need to send documents if I do the I.B.V.?

This is the paperless application; we will not need your documents if you do the I.B.V. However, there are some exceptions to this rule for more information please contact our customer service at 1-888-952-6262.

What are the advantages to the I.B.V.?

This option allows you to complete your application without the hassle of sending your documents. The I.B.V. has an equal level of security as what is used in the largest financial institutions.

What if I do not have access to my online banking?

It’s easy! you can contact your financial institution and ask them to create your online credentials. Once you have a username and password, it will be important to first log in to your account before the I.B.V.

OR

You can choose to apply manually. To do so, you will need to provide us your signed contracts as well as the following documents:

  • Your last 30 days bank statement
  • Your last pay slip
  • A proof of identity
  • A void cheque
  • A proof of residency
I do not have fax, where can I find one?

Several shops offer the use of their fax machine for a small fee. You can find them in the following places :

  • Staples;
  • Post Office;
  • Pharmacy;
  • Corner Store;
  • Your employer;
  • Library;
  • Copy center.
What is a photo ID?

A photo ID is a legal document issued by the government of Quebec or Canada.

Examples of valid photo IDs are:

  • Driver’s license
  • Provincial health card
  • Valid passport
What is a CNESST stub?

Formerly known as CSST. Here is an example of a CNESST form. This form is provided by the Commission des Normes, de l’Équité, de la Santé et de la Sécurité du Travail

csst2

Please note that this form is only available in french. Feel free to call us 1-888-952-6262 for assistance.

What is a pay stub?

A pay stub if a note or document given to you by your employer at the same time as your pay. It can be given to you with your check or sent by email if you have direct deposit.

What is an Employment Insurance stub?

Here is an example of an Employment Insurance form. The 2 following documents replace a pay stub.

chomage
demande_courante

What is a student loan assessment statement?

Here is an example of an assessment statement for a student.

what is a student loan assessment statement?

What is a proof of residence?

Proof of residence is required to confirm that the address on your loan is where you live. An electrical bill or a phone bill are two examples or a proof of residence.

utility bill

What is a bank statement of the last 30 days?

A bank statement is a document presenting every transaction in a bank account for the last 30 days. This document is often sent by mail or is accessible online depending on your financial institution. Prêt Direct requires a bank statement from the account where you receive your pay, often called “checking account”.

releve-bancaire

What proof do I need to provide on Maternity/Parental Leave?

Here is an example of an QPIP stub that justify Maternity/Parental Leave.

rqap

What is an SAAQ stub?

Here is an example of an SAAQ stub.

saaq

What is a blank check?

A blank check is a voided check that you provide to a financial service such as Prêt Direct or to an employer in order to receive direct deposit. The blank check requested by Prêt Direct is one associated with the bank statement provided during the application process. Please note that Pre-Authorized Deposit Form are also accepted.

specimen-cheque

Make an online request Make an online request