Loan Warning

Loan Warning

Whether you need a loan in Canada or the United States, you should always be informed of the lender you choose. Transparency is essential when choosing a cash advance company. This disclaimer is for educational purposes only and should not be considered legal advice. Private Loan Shop has no formal affiliation with the government, but complies with provincial and federal laws in Canada and the United States.

Annual percentage rate

Annual percentage rate

The annual percentage rate is the actual rate at which your online loan is acquired and is based entirely on a group of factors, including the amount and interest related to your loan, the term, the repayment amounts and the payment schedules. Only the approved lender can give you the terms of your loan. Under the law, in Canada and the United States, the payday lender must provide the APR before entering into a loan agreement. The owner or operator of this site is not a payday lender, loan broker or agent for a lender or loan broker. We do not have access to the details of your loan. Private Loan Shop facilitates communication between you and eligible lenders.

Consequences of non-payment

Consequences of non-payment

If you do not repay your loan on or before the loan due date, your loan will be considered “late” and will be subject to fees set by the lender. In addition, your bank will charge you a Reserve Fund Fee (NSF) for the failed item. The interest rate will continue to grow on the outstanding balance. If you are unable to repay your loan, you will not be able to borrow from the lender until you have settled the balance in full. Only reputable collection agencies that comply with all legal collection practices are used and the customer’s credit rating may be negatively affected if payment is not made on time.

Collection practices

Collection practices

Private Loan Shop collects information about you through your access to this website, your use of this website and your use of the Company’s referral services (the “Company Services”). Some of the information provided is collected when submitting information when you submit your information on the site. Any use of our services is entirely voluntary and you are not obliged to provide us with information unless you wish.

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