All You Need To Know About Unsecured Loans for Bad Credit in Canada

Flex Loans are unsecured loans for bad credit in Canada that you can get from Cashco Financial. A personal loan is an unsecured loan, usually repaid over a long-term course, that you can use for any personal purpose.

The top 5 reasons to get a personal loan

Some common reasons people take out personal loans include:

• loan consolidation,
• meeting a large unexpected payment obligation,
• making house improvements or repairs,
• auto repairs,
• paying utility bills, and much more.

The most important thing about a personal loan is that it is convenient. Most creditors and lenders would issue a personal loan even if you don't have the best credit rating score. Moreover, not too many stringent checks are carried out which means these loans can be availed at short notice and when there is an emergency.

Cashco Flex Loans

Flex Loans are unique because Cashco usually approves some amount or credit even if you don't have the best credit history through regular and timely payments. Cashco Financial, unlike a number of other lenders, also makes sure that your payments are reported to the Credit Reporting Agency or Credit Bureau. This means you can stop your personal credit rating from degrading quickly and eventually improve it.

You can pay Cashco Financial Flex Loans in a number of installments, which gives you more time to restructure your finances, many opportunities to make payments on time, and reinvigorate the credit history.

Improving your credit with a Flex Loan

A good credit score is a must if you want to apply for a home loan, auto loan or student loan. Even though these loans are secured, wherein you will have to offer collateral in exchange for the loan or have a guarantor stand-in for you. You would also need a good credit score if you want to get a personal line of credit in Canada. It makes life easy for you in a number of ways. Having a good credit score will also give you a psychological boost. It will help you to feel safe and confident.

An unsecured Flex Loan can also be used to consolidate all your debts. If you have got yourself entangled in a debt trap, a lot of financial experts in Canada will tell you to first find a single loan that would consolidate all your other loans. Since the rate of interest of Flex Loans is much lower than all short-term loans, credit card debt loans, and most other long-term personal loans in Canada, you will actually be paying much less in interest every month.

There is also the convenience angle. Consolidating your debt with a flex loan rolls your debt up into one monthly payment. So instead of having to preoccupy yourself with bills, papers, and documents from many loans and keeping track of various payment due dates, you will simply have to worry about one single loan.

How Can You Get an Unsecured Loan for Bad Credit in Canada?

The process is very simple. You can either apply online or you can visit one of the many Cashco Financial brick and mortar stores located in many prominent cities and places across Canada.

If you decide to apply online, you can quickly apply on theCashco Financial' Flex Loan page. The form is really simple; all you have to do is answer some basic questions. Once the unsecured loan is approved, you can get it credited directly to your registered bank account or pick it up from a store near you with a printout of the approval receipt and other required documents. The process would be similar in a physical store and the loan is given within 24 hours of your loan approval.

However, you must remember that your debt to service ratio and your prior credit history will be checked, and you must be prepared for this. If required, the company maintains the right to make additional investigations, but it is very rare. The process is completely hassle-free and client convenience is always the highest priority.

If you have queries about any specific aspect of a Flex Loan or if you want to talk to an agent about your individual case before taking a loan, don't hesitate to contact us.

Benefits of Flex Loans

A Flex Loan has a number of benefits:

• Unsecured Loans for Bad Credit in Canada up to $7000 will be approved and you can choose to repay it over a maximum time horizon of 60 months. This means you get enough time to take stock, reorganize your finances and pay it back.
• A Flex Loan is extremely flexible. It also gives you the option of pre-closure should you choose to pay off the loan before your agreed full tenure of payment. You can also top up your loan in case you need more credit over and above your original loan. You can choose the frequency of payments at your convenience. You may choose a bi-weekly or monthly payment scheme.
• You can use it to consolidate your loans or use it as a means to improve your credit scores (as discussed before).

Get the financial assistance you need now

A Flex Loan offers wonderful financial assistance when you need cash. If you ever need one, don't hesitate to apply. It's a soft loan and as a result, means the interest you pay will be much less than some of the other loans that you may have. Use it to take care of your contingent or recurring financial needs and enjoy the convenience.