{"id":10743,"date":"2026-07-31T10:42:23","date_gmt":"2026-07-31T10:42:23","guid":{"rendered":"https:\/\/solutioncredit.ca\/?page_id=10743"},"modified":"2026-08-03T13:18:33","modified_gmt":"2026-08-03T13:18:33","slug":"responsible-lending-borrowing-policy","status":"publish","type":"page","link":"https:\/\/solutioncredit.ca\/en\/responsible-lending-borrowing-policy\/","title":{"rendered":"Responsible Lending & Borrowing Policy"},"content":{"rendered":"\t\t
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Responsible Lending & Borrowing Policy\t <\/h2>\r\n <\/div>\r\n <\/div>\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Responsible Borrowing<\/b><\/p>

We carefully review every credit application to ensure that borrowers are able to repay the amount requested. Each application is assessed, and a debt ratio is calculated as part of our evaluation. This process includes, but is not limited to:<\/p>

\u2022 Verification of your bank account to confirm there are no insufficient fund (NSF) payments.<\/p>

\u2022 Evaluation of your income and expenses to ensure they meet our lending criteria.<\/p>

If your application meets all of our requirements after review, your request will be approved.<\/p>

Missed Payment & Credit Rating Fees<\/b><\/p>

A fee of $45 will be charged to your account if a payment is returned due to insufficient funds or any other reason. However, this will not affect your credit score with Solution Credit. If you are unable to make a payment, please notify us by phone or email at least 48 hours in advance. A $25 administrative fee may also apply. By repaying your loan responsibly, you help maintain a positive relationship for future credit requests.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Annual Percentage Rate (APR)<\/b><\/p>

The Annual Percentage Rate (APR) applied to the borrowed amount is 22%.<\/p>

Responsible Collections<\/b><\/p>

Our collection practices are responsible and comply with applicable Canadian laws. If you experience difficulty repaying your personal loan, our collections team will work with you to find a solution that fits your financial situation. Interest may be added to any unpaid balance if payment terms are not respected. You are responsible for your loan agreement and any legal fees that may result from non-payment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Loan Renewals<\/b><\/p>

Loan renewals are not automatic. A renewal request must be submitted and approved.<\/p>

Repayment Term<\/b><\/p>

Loan repayment terms generally range from 3 to 4 months depending on the approved loan amount.<\/p>

Repayment Example<\/b><\/p>

For a $750 line of credit, you would repay weekly payments of $74.29 over 221 days, for a total repayment amount of $1,188.26.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Important Notice:
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Solution Credit is here to help when other financing options have been exhausted. Our loans carry higher interest rates than those offered by traditional financial institutions. Please borrow responsibly and only after carefully reviewing your financial situation. A line of credit may be an appropriate solution for your needs, but you should avoid taking out multiple short-term loans, as this may increase your financial burden and lead to unnecessary debt.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Responsible Lending & Borrowing Policy Responsible Borrowing We carefully review every credit application to ensure that borrowers are able to repay the amount requested. Each application is assessed, and a debt ratio is calculated as part of our evaluation. This process includes, but is not limited to: \u2022 Verification of your bank account to confirm […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-10743","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/pages\/10743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/comments?post=10743"}],"version-history":[{"count":3,"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/pages\/10743\/revisions"}],"predecessor-version":[{"id":10747,"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/pages\/10743\/revisions\/10747"}],"wp:attachment":[{"href":"https:\/\/solutioncredit.ca\/en\/wp-json\/wp\/v2\/media?parent=10743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}