FAQ
Our FAQ
Most forms of regular income are accepted, including employment wages, self-employment income, government benefits (such as EI or child benefits), and pensions. The key requirement is that your income is stable and deposited into your bank account.
Yes. Many lenders accept applicants with poor or limited credit history. Approval is often based more on your current ability to repay than your past credit score.
Yes. Self-employed individuals can apply through LoansPicker as long as they can provide proof of consistent income, such as recent bank statements or tax documents.
No. Permanent residents and valid work or study permit holders can also apply through LoansPicker, provided they meet the income and banking requirements.
Yes. LoansPicker typically requires applicants to have a minimum monthly income to ensure they can manage repayments. The exact threshold may vary depending on the lending partners LoansPicker matches you with.
The online application only takes a few minutes to complete. Once submitted, most applicants receive an approval decision within minutes.
No. The process is simple. You usually only need proof of identity, income, and access to your bank account for verification.
If approved, you can often receive your money the same day or within 24 hours, depending on the lender and your bank’s transfer times.
Yes. You can complete your application 24/7. However, bank transfers can only be processed on business days.
Yes. The entire LoansPicker process can be completed from any device, desktop, tablet, or smartphone
No. With LoansPicker, everything is 100% online from application to approval and funding without the need to visit an office.
LoansPicker will notify you by email or SMS once your application has been reviewed and matched with a lender. You’ll then receive instructions to finalize your loan.
If you notice an error after submitting, you can usually correct it by contacting LoansPicker’s support team or resubmitting your application with the correct information.
Our online loan application is available 24/7. Customer support is also available around the clock, including weekends and holidays.
No! The application is completely free with no commitment required.
Yes. IBV uses bank-level encryption and read-only access. Lenders cannot make changes to your account; they can only view the information needed to process your application.
Your data is protected with encryption technology and strict privacy standards. Lenders comply with regulations to protect your information at every step.
Immediately contact LoansPicker’s support team. They can guide you on how to secure your account and prevent unauthorized access.
No. LoansPicker does not store your banking information. It’s securely encrypted and shared only with the selected lending partner for verification purposes.
Yes. LoansPicker is a legitimate platform that only partners with licensed and regulated lenders in Canada, ensuring your data and transactions remain secure.
You can manually upload your recent bank statements through LoansPicker’s secure system if your bank isn’t compatible with instant verification.
Yes. Most lenders allow early repayment without penalty, which can help you save on interest.
Contact your lender immediately if you anticipate difficulties. Many offer refinancing options or alternative payment plans. Missing payments may result in additional fees.
Yes, you can make full or partial payments via e-Transfer. Note that for residents of Manitoba, Alberta, and Nova Scotia, early repayment doesn't allow immediate reapplication.
No. We can only offer one loan at a time due to consumer protection regulations. Once your current loan is fully repaid, you can apply for a new one.
Yes. Sometimes LoansPicker allows you to adjust your payment schedule to align with your payday. You can request this change through LoansPicker.
You may incur a missed payment fee, and LoansPicker’s team might attempt another withdrawal. It’s best to notify LoansPicker in advance if you expect any issues.
Contact LoansPicker’s support team immediately. They will review the transaction with the lending partner and issue a refund if an error occurred.
Yes. You can often switch your payment method or update your bank account details through LoansPicker’s platform.
Some of LoansPicker’s partner lenders may allow a temporary payment pause if you experience financial hardship. Contact LoansPicker’s support team as soon as possible for assistance.
Loan amounts aren't guaranteed and are calculated based on salary, spending habits, and payment history. Repaying on time can help increase future loan amounts.
Contact us immediately at +1 (514) 219 7617 to arrange a payment plan. We're here to help you find the best repayment options via phone or text at (514) 219-7617.
Failure to repay may result in credit bureau reporting, NSF fees up to $20, late interest up to 35% annually, and potential legal action. Contact us if you're having difficulties—we'll work with you.
Our support team is here to help you with any questions or concerns you may have.
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