With difficult economic times, it is increasingly difficult to make ends meet, even for those who work. And when an unforeseen expense is added on top of the usual charges, the only solution is sometimes to apply for an urgent loan. But when it comes to a real emergency, how can you speed up your treatment?

SEND A FULL FILE

When making a request for urgent loanMore often than not, one is asked to fill out an information form containing contact details, personal information, references and employer information. Nowadays, you can do this online, fax the form, mail it or drop it off at an agency. You must also upload all the documents required on the first request, either by scanning them and sending them electronically to the lending institution, or by faxing them, mailing them or submitting them with the file. The online approach is still the preferred method because it saves a considerable amount of time for the agent who processes the file, all the data being in the organization’s system in just a few clicks. Most of the time, the documents to be provided are:

Bank statements covering a period of 60 days

The latest pay stubs whose deposits are visible on the bank statement or other proof of income

Identity documents, in particular one with photo and the social insurance card

Proof of address (mortgage document, lease contract, electricity or telephone account)

Failure to produce all of the documents as soon as the file is filed or on the first request may result in a longer processing time or even be refused on the grounds of an incomplete file.

REQUEST AN ACCEPTABLE AMOUNT

When it comes to credit, you shouldn’t ask for more than what you need, especially when you are already in short-term debt. Organizations must indeed verify that the level of indebtedness and in particular small short-term loans, including the new loan, will allow the borrower to repay all of his loans. Better not to ask for too large an amount or too short a repayment period that would contribute to exceeding the acceptable debt limits, which organizations estimate between one third and 40% of income. Otherwise, the file risks being refused, and it will be necessary to redo a new process with the same organization or another by asking for a smaller amount of money, and precious time will have been lost.

CONTACT THE ORGANIZATION FOR SPECIAL SITUATIONS

Not everyone is an employee or does not necessarily meet the standard profile criteria. However, this does not necessarily mean that the case will be refused but simply that it will be the subject of special treatment and an in-depth study.

This is the case for example:

People who do not have a pay deposited by direct deposit

Self-employed workers

People benefiting from CSST, disability insurance or annuity plans

In order to speed up the processing time of the file, they must contact the organization and provide any useful information to the officer responsible for studying their file.

Running out of money happens to all of us at one time or another. And to get out of this bad patch, a solution must urgently be found. A complete file, an amount requested that does not indebted the borrower beyond the reasonable and a good follow-up of the procedure allow to speed up the processing of an urgent loan request