Terms and Conditions
The repayment period in calendar weeks of the amount withdrawn is based on 12 weeks. This period can be adjusted according to your payment capacity.
The payment amount may vary depending on the date of the first payment selected by the customer and according to the frequency of payments selected by the customer
A minimum periodic payment calculated on the Debit Balance is due and payable periodically according to the period agreed by the Client from the first payday following the date of the first withdrawal made by the client.
The minimum periodic payment is recalculated automatically when the client withdraws additional sums or when the client makes prepayments on his Margin. The payment amount will be shown on their monthly statement.
The customer can withdraw one or more amounts, each withdrawal having to be a multiple of 100 dollars up to the maximum amount of the margin.
The amounts withdrawn by the customer are sent by "CreditClick" via Interac
The "CreditClick" obligation towards the Customer is limited to sending the amount of the Sums withdrawn during a working day, during CreditClick business hours.
The weekly management fee is due and payable as long as there is an outstanding balance on the Margin.
The weekly management fees will be accumulated if the period is other than weekly and debited according to the payment period established with the Customer.
The Client may repay the Debit Balance at any time, in whole or in part, without notice or penalty.
The client may request a payment deferral for a fee of $30.00 (thirty dollars). Interest from the deferred payment will be applied to the next payment. A weekly management fee for the postponed period is required and added to the total payment for the postponed period.
If the customer does not have the necessary funds at the time of a direct debit, an insufficient funds fee of $60.00 (sixty dollars) will be applied to the next payment.
If a credit margin with a zero balance is not used over a period of 3 months, this will result in the closure of said Margin. The customer will have to submit a new application.
The amount of each of the Sums withdrawn and any residual balance thereon bears interest from the date of the related withdrawal at an annual rate calculated daily.
The Client must keep all information concerning him up to date and notify "CreditClick" of any change, including those relating to his financial situation and employment.
The Client agrees that "CreditClick" sends him his account statements to his email address.
The Client consents to receive "CreditClick" commercial electronic messages which include file updates and promotions regarding "CreditClick" products. The Customer may withdraw his consent at any time.
Any failure of the Customer to comply with any provision, "CreditClick" may demand payment in full of any unpaid balance, principal, interest, and costs. All judicial and extrajudicial costs that will be reasonably incurred during defaults will be claimed from the debtor for any pre-authorized payment returned to the creditor. In the event that no payment agreement is possible between the debtor and the creditor, the creditor could assign the file to a collection agency, which may affect your credit rating
The Client authorizes "CreditClick" to carry out pre-authorized debits (PADs) in the account of his financial institution.