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QUESTIONS AND ANSWERS ON OUR MONEY LOANS.

YOU HAVE QUESTIONS?

WE HAVE ANSWERS
  • How long will the funds be available?

    If we receive the contract signed before 11:00am, the money will be deposited in your account around 6:00pm on that day.

  • I do not have fax, where can i find one?

    Several shops offer to use their fax, you can find a unit at the following locations: Staples; post office; pharmacy; convenience store; your employer; bookstore; photocopy center. If you cannot find any fax machines close to you, we accept photos via email [photos can be from a cell phone or a digital camera].

  • I’m self-employed, am i eligible for a loan?

    Unfortunately we do not accept the self-employed because they are usually not paid by direct deposit.

  • How do i apply?

    You can perform an online loan application at https://solutionprets.ca/en/application-form , with our online application form. If you are a customer, you can log into your account, call us toll free at 1-855-791-9552 or write us at info@solutionprets.ca . If you want to speed up the process, take the time to gather the following documents: identity photo, recent pay stubs, the most current 60-day bank statement, a blank check and, proof of residence.

  • What are the conditions of acceptance?

    Be 18 or older, be a Quebec resident, be employed for at least 3 months, be paid by direct deposit at a Canadian bank account and not be in process of bankruptcy.

  • What are the reasons why my application is rejected?

    The reasons for refusal are always confidential. However, some criteria such as be under a consumer proposal (bankruptcy) or a voluntary deposit; have no source of income; provide incomplete or incorrect information, will have your application be automatically rejected.

  • How long does it take before the money is deposited into my account?

    From the time we have in hand all the documents requested, we are committed to complete the evaluation process in less than one hour. If you have returned the contract signed before 11:00am, the funds will be deposited into your bank account by the end of the day. Note that the time of deposit might vary depending on your financial institution. If the funds are not deposited within the same business day, then they should be deposited in your account within one business day.

  • Can i apply if i benefit from csst programs, unemployment insurance, disability insurance, annuities plans?

    Unfortunately we do not accept customers who benefit from government benefit programs.

  • Can I defer a payment on my loan?

    Yes, it is possible to do so. However, make sure you are contacting us at least 48 hours before the bank withdrawal from your account as your request needs to be processed in time. You can also make you the deferral via your

  • What will happen if I am defaulting on my loan?

    If you go through difficult financial times, it is important to contact us (toll free: 1-855-791-9552). There is a $ 40.00 fee for a bouncing cheque and a $ 25.00 fee for a deferred payment. In the situation where there is a prolonged failure to pay the debt, your account will be transferred to a collection service.

  • Can I make a refund on my loan?

    Yes, our loans are open loans. Any payment you make on top of the scheduled ones applies directly to the capital.

  • Is the process confidential?

    Of course! Throughout the process our employees are obliged to keep all information with respect to customers (and customers’ accounts) strictly confidential. No informations will be disclosed to a third party. For more details you can read our

  • How do i sign my contract?

    The signature of the contract can be done electronically. You will be emailed a link that will allow you to sign the contract (using the mouse or your finger). You can also print your contract, signed it and send it by email to info@solutionprets.ca or by fax at 1-855-791-9355. For more information, please contact us at : 1-855-791-9552.

  • Do i apply for a new loan even if i have not finished paying my current loan?

    Yes. If you wish, you can renew your loan two weeks before the term expires.

  • I changed my bank account. What should i do?

    You must send us a new blank check by fax or email and one of our representatives will take care of making the necessary changes to your banking information in your file.

  • The time that i had to accept the agreement has expired. Can i re-apply immediately?

    Yes, in order to comply to the agreement and for the sake of not charging you excess interest; you must sign the contract within 24 hours of its creation. If the 24-hour period expires, then we will have to start the process over again.

  • Can my bank statement be denied?

    The bank statement must contain at least the last 60 days of your daily transactions. It is important to see all the details such as balance, deposits, withdrawals and descriptions of operations. If not, we will not be able to assess your file properly.

  • Can my pay stub be denied?

    A recent pay stub is required for the evaluation of your file. A too old pay stub, or an unreadable pay stub, or a pay stub that does not match your job description might all lead to refuting your file.

  • Can my ID be denied?

    The identification must be clear and legible and must not be expired. No field should be hidden and any attempt at fraud will be deferred to the authorities.

  • Can my blank check be denied ?

    The blank check may be refused if it is not readable, or if does not match your personal data.

  • Can i receive my loan into an account and make withdrawals in another?

    Unfortunately not. We take the amounts in the same account where your pay is deposited. This process is essential to avoid all types of fraud.

  • I filled out the form and it does not work?

    Please ensure that all fields are filled properly with the right information. Incorrect or incomplete information automatically prevents sending your form. If the problem persists, please contact us at

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Annual percentage rate (APR) The APR on the amount borrowed from the lender varies between 18% and 20%. Given transactions fees of 0.50$, the interest rate cannot exceed 21.82%. Guarantee fees are applicable for every request accepted.
Renewals Returning customers may renew their loan two weeks before the end of the contract. A grace period is given to the customer helping him/her paying off their loans before taking on a new one. No additional fees are added for returning customers. You may consult our renewal page for more information.
Faster repayment You can reimburse your loan at any time you wish as your loan is an open loan. Also, customers can decrease the balance on their loan faster and save on interest by making larger payments, which helps decrease the amount of interest charged on the loan and shorten the term of the loan.
Repayment terms The terms of repayment of our loans varies from 3 to 4 months. They are also redeemable at any time.
Responsible collection practices Our company uses responsible collection practices. When a customer fails to make a payment, our collection agents can terminate the plan and use different methods to recover the money owed. The relationship with our customers is our priority. Therefore, our agents will attempt to contact the customer in many different ways and, under no circumstances, will the customer be left without notice. Terminated (?) payments will continue to carry interest on the outstanding loan balance. The borrower is responsible for all legal fees required to recover the balance due on the loan. Uncollected debts are subject to the full extent of the law.
Policy regarding responsible lending All applications are submitted through a filtering process to ensure the borrower has the sufficient income to reimburse the loan. This includes, but is not limited to: (a) verifying that your monthly salary is sufficient to reimburse the loan and qualifies for a loan, (b) that you do not have an excessive amount of insufficient fund charges in your bank account, and (c) that you do not have an excessive amount of pre-authorized payments posted to your bank account that would interfere with paying your loan in a timely matter. Failure to successfully fulfill the above mentioned criteria will lead to the rejection of your loan application.
Example of repayment A loan of $ 500 payable every two weeks in 12 installments will cost you $ 61.86 per payment. This information is provided for descriptive purposes only and considers a guarantee fee payable to Loan Solution in the amount of $ 225.00. Solution Prêts determines the cost of each financial products at its own discretion. These costs are independent of the interest charged by the lender.
Missed Payments and credit score Missed payments will be lumped together as a one-time payment at the end of the term of the contract. Besides, as stated in the contract, for each missed payment, a 40$ fee for insufficient funds will be charged at the end of the term. This will not affect your credit score with our company and your bank. If you need to postpone a payment, you must call us 48 hours before the due date of the payment. The payment will be postponed till the end of the contract but will cost you a 25$ fee. Loans paid in a timely manner ensure great service and lead to hassle free renewals, if needed.
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