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How to cancel your payday loan without extra fees

How to cancel your payday loan without extra fees

Payday loans are rapid and simple step to borrow a small amount of money for a short period of time. Some define it as fast loans, and it makes you meet your financial needs with simple steps.

The most prominent disadvantage of payday loan is the high interest rate, because you will pay $22 as fees for each $100. When you compare the high fees with other financial solutions, you will find its steps very simple.

Some people ask, can I cancel the payday loan after signing it? _Of course, you can cancel it. As it has a cooling-off period and you can cancel it with no fine. Just follow the next:

 

  • If you have one day cooling-off period after you signed a payday loan agreement from storefront agency. You can cancel your payday loan any time after signing the contract even if after one day. For example, if the agency is closed until Monday, and you signed the contract in Friday so you can cancel it in on Monday .

 

  • And if you get the payday loan from the internet, you have 48 hours cooling-off period. As you can cancel the payday loan in 48 hours after getting money.

 

Customers have to know that there is no fine, if they want to cancel a payday loan during the cooling-off period, and you do not have to t explain, “why do you want cancel the payday loan?”

Payday loans are regulated by law, it means in case you have any  problem dealing with lending agency , any conflict about the cancellation of your payday loan, or the agency imposed fees or fines on your cancellation during the cooling-off period, you can get instant help from Service Nova Scotia.

 

 

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