Archive for December 2018

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Getting Back to Basics – New Year’s Credit Rebuilding Resolutions

On December 27, 2018 / Credit After Bankruptcy, Credit Rebuilding, Credit Repair in Canada, Credit Reporting, Fixing Your Credit, How to Rebuild Credit, Request your Credit Report, Secured Credit Card, Secured Credit Card to Rebuild Credit / Comments Off

The new year is just days away. Have you considered a credit rebuilding resolution? New Year’s resolutions can get a bad rap at times. We read a lot in the news about how they are difficult to stick with and how most people abandon theirs by the…

Borrow Home Equity to Pay Off Your Credit Card – Even If You’re Not the Only One on Title

On December 19, 2018 / Borrow With Your Home, Home Equity Financing, Home Equity Loan, Home Equity Personal Loan, Mortgage Financing, Mortgage Refinancing, New Mortgage Rules, Unsecured Home Loan / Comments Off

With interest rates on the rise, high credit card debt can be even more expensive to pay it off. If you have home equity available, you might want to use some of it to pay down your bills, but what if there are other people on title?…

Happy Holidays from the Prudent Financial Family!

On December 12, 2018 / Happy Holidays / Comments Off

Happy Holidays from the Prudent Financial family. We wish you the best this holiday season and hope you get to spend it with your loved ones. See you in 2019!

Good News for Holiday Shoppers: Canadian Interest Rates Staying Steady for December 2018

On December 6, 2018 / Bank of Canada Interest Rate, Canadian Interest Rate, Holiday Spending, Interest Rates, Personal Loan / Comments Off

If you’ve been putting holiday purchases on your credit card, the latest Bank of Canada announcement will come as a relief – Canadian interest rates are staying at 1.75% for the rest of 2018. On December 5, 2018, the Bank of Canada (BOC) announced that it would…

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The Fineprint

Here is the fine print for your Prudent loan.

Min and Max period for a Prudent loan repayment

Answer: 1-5 years

What is the maximum annual percentage rate (APR), which includes the interest rate plus fees and other costs for a year?

Answer: 5.75% plus annual fee (ranges from 10% -19%) APR* – 15.75% – 24.75% maximum (effective rate will vary).

A representative example of a Prudent loan – How is it broken down with all applicable fees

A typical 1000.00 loan, paid off over a 12 month period borrows an amount of 1020.00 which includes the $20 credit application fee. Total cost is 231.94. Payment is 104.33. This does not include optional life insurance

*Rates vary according to credit risks but at all times compliant with all applicable legislation and Prudent does not rely upon any exclusion intended for a pay day style loan company.

Liens and other searches 16.00 and up dependent on loan amount and amortization.

In some situations some security may be required.

Approval times are based on optimal situation - customer has all documents and extensive verification is not required.

Questions? We pioneered the Responsible Lender Pledge. Call us anytime and we’ll be happy to discuss your loan and what fees may be involved depending on your particular circumstances.