High Risk Installment Loans – $3000 No Teletrack – Burnaby, BC – Canada


3000 high risk installment loan High Risk Installment Loans   $3000 No Teletrack   Burnaby, BC   CanadaSandra from Burnaby, B.C. applied for a $3000 dollar personal loan without a credit check, and/or no Teletrack checking on her name and social insurance number. Getting a $3000 dollar loan without any kind of credit check is not likely to happen in your lifetime, or my lifetime.

All lenders have to evaluate the applicant’s risk quotient to make a smart decision on approval or NO approval.

Really, in the financial industry, all it comes down to is a factor of trust (we’ll touch a little more on the “trust factor” further down this post). However, we have some work to do first.

You want to understand the reality behind the elusive installment loan product. “Installment loan” is a term that has been hi-jacked by the payday loan and cash advance companies in Canada and the USA. These high-risk lenders crank up their APR to counter-balance, or offset their losses due to payday loan skippers. It used to be that these high-interest, risky loans were only taken over a term of 1-4 weeks, but because of consumer demand, they have now ventured into the 3 month, or 6 month terms, with a biweekly or monthly payment frequency.

Like I said, the interest is very high, and getting a $3000 loan may be really hard in Canada – as of this writing I don’t know of ANY Canadian lenders that will lend to high risk borrowers for amounts higher that $1500 dollars, and over a period of months.

But, for the sake of argument, here is the ideal small consumer loan for you, and the math involved. The equation is basically the same as any old-school loan, with a reasonable APR, monthly or biweekly installment payments, and a full term length of 1 year. See below;

  • Location of Borrower: Burnaby, British Columbia, Canada
  • Loan Principal: $3000
  • APR = 12%
  • Installment Schedule: Biweekly
  • Total Term Length: 1 year (12 months, 26 payments)
  • Amount Paid (interest and principal combined: $3186.92
  • Interest Paid: $186.92
  • Biweekly Payments (every 14 days): $122.24

Now doesn’t that look reasonable? I would suggest to you that it is. And you wonder how come there are not any lenders in Canada that will lend out 2k-5k loans over the period of a year. They would make a good profit. You would think – from such a simple consumer lending product. But, the reason they don’t is because many conventional banks are invested in payday loan companies and cash advance companies – why would they “get you” for an interest rate of 12% when they can get you for an effective APR of 390% or more – much more.

high risk loans canada High Risk Installment Loans   $3000 No Teletrack   Burnaby, BC   CanadaReason For High Risk Installment Payment Loan

Sandra needs this relatively small loan approved by Thursday night (as per the application data below) so she can buy a billiard table for her family room – she needs this all approved and EFT transferred within an hour if she can.

She has an old flame coming over and he always loved to shoot some pool with her. She doesn’t have any extra money on hand, and her credit score is quite abysmal at the current time.

The Trust Factor – How Banks and Payday Loan Lenders Assess Risk

This is how all high-finance criminals start ripping people off – they handle other people’s money on the straight and narrow for awhile, and once they have accumulated enough trust in their community, they start cheating.

Same with the small consumer loan business – if your credit is squeaky clean, then you can take on a whole boat load of debt if you want.

That is what is happening these days, as the consumer base (as a monolith) is spending more, saving less, and growing massive personal debt. Same applies here for Sandra.

Luckily (or unluckily depending on where you are in the debt versus equity equation) for Canadians, Canada’s major banks and Credit Unions have always been fairly well regulated by the Federal Government, and they’ve never been partial to lending out money to people who have sub-prime credit ratings – you have to prove you have your sh*t together right. Right.

Burnaby Resident’s $1000 Dollar Loan Application:

  • Money Required: $3000
  • Payment You Can Afford Per Month: $330
  • Credit Rating By FICO #: 510
  • What is Your DTI: 0.49
  • App Location: Burnaby, British Columbia
  • Applicant’s Country: Canada
  • What Is The Cash For: Pool Table
  • Period of Loan: 28 days
  • Gross Earnings Each Month Combined: $5,100
  • Employed How Long With Employer: 8 months
  • Your Employment Field: Planning and Administration
  • Urgency of Loan: In 4 days please
  • Owing On CC: $897.43
  • Present Total Debt Load: $8.763.32
  • Car/Truck/SUV: Jeep
  • Amount Owing: N/A

Borrower’s Comments: I would like to get the money in my bank account by the end of Thursday’s business hours please. I will start making payments monthly whenever you decide. If the lender you find doesn’t mind, I would like to pay biweekly instead of monthly, and I would like to pay enough each installment so that I can have the loan completely paid off by this exact day in the calender next year.

I have a plan for my monthly expenses so that I can afford the payment. I have submitted all my personal and financial information in full, and with no kind of embellishment either way. I don’t know how you choose to qualify me, but I would like to tell you that I am a very honest person, and I will pay you back just as we work out the details in our lending agreement.

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Use the loan application below to start the process. Detail your income and purpose of loan please - lenders do not respond to applicants who don't provide it. Thanks for using BFC!


38 Loan Requests

  1. Natasha applied for the following loan:

    Loan: 1000

    Speed: asap

    Credit: Between 450 and 500

    Location: Edmonton, Alberta, Canada

    Income: $1,785 after taxes paid bi-weekly

    Reason:

    Repairs required to be made to car

  2. Janice applied for the following loan:

    Loan: 5000.00

    Speed: Now

    Credit: Fair

    Location: Maple

    Income: 4r00

    Reason:

    To pay back funrral cost

  3. glen applied for the following loan:

    Loan: 2500

    Speed: now

    Credit: 500

    Location: winchester,on canada

    Income: $3500+commission

    Reason:

    To pay off my lawyer for my divorce

  4. Sandra applied for the following loan:

    Loan: 2000

    Speed: immediately

    Credit: poor

    Location: windsor ontario canada

    Income: 1630 pension

    Reason:

    to bring my husband home for Christmas!

  5. Stephanie applied for the following loan:

    Loan: 1500

    Speed: Today

    Credit: Fair

    Location: Kitchener

    Income: 1040 disability 1357 child tax

    Reason:

    Bills and christmas

  6. sassyraggs applied for the following loan:

    Loan: 2000

    Speed: immediately ASAP

    Credit: poor

    Location: windsor ontario canada

    Income: 1630 pension

    Reason:

    to bring my husband home for Christmas! I haven’t seen him in a year please bring him home

  7. Roberta applied for the following loan:

    Loan: 40,000.00

    Speed: As soon as possible

    Credit: Poor

    Location: Ottawa Ontario

    Income: Biweekly I get paid 1,000.00 and child tax I get about 1,000.00 monthly

    Reason:

    I’m taking care of my kids on one income because father refuses to help he doesn’t even bother to want to see them and we are going through separation/divorce and I’m paying everything including my lawyer payments, groceries, school activities, medical ,bills and everything else that comes our way . Being Christmas time it’s very lean for me to even give my kids (2) the Christmas they deserve. I’m struggling and just need some help as my credit score has been spiritually down words Because of my situation and it’s hard because I’ve never been in debt my hle life until he left thank you for taking the time to at least look at my application but if not approved I’ll understand

  8. patrick applied for the following loan:

    Loan: 2000

    Speed: as soon as possible

    Credit: poor

    Location: hamilton ontario canada

    Income: 1151 a month

    Reason:

    to help pay off bills and get new equipment for my company

  9. Marc applied for the following loan:

    Loan: 10,000

    Speed: now

    Credit: fair

    Location: Alfred,Onratio

    Income: 1,668 by weekly net earning

    Reason:

    I’ve been laid off till January the 8 2018 and My brother has been laid off till spring. Unexpected expense for the car occurred. I’m taking care of all the bills for the moment and it’s hard on the budget. Paying for my bills and brother’s bill s well.

  10. Sharlene applied for the following loan:

    Loan: 4000

    Speed: 03/01/18

    Credit: Poor

    Location: Toronto/ Ontario CANADA

    Income: 2000

    Reason:

    To pay my arrears rent..i do mot want my familyb and I to get evicted

  11. Jessica applied for the following loan:

    Loan: 5000

    Speed: Today

    Credit: Poor

    Location: Kelowna,B.C., Canada

    Income: It’s varies from $2,500-$4,000 depending on the month. I own a cleaning company so there are busy and not busy times.

    Reason:

    I’ve had some unexpected large utility bills I’ve had to pay and now I owe taxes on my company and can’t pay them currently as there is a slow season with my company. I plan to pay the loan in instalments on a monthly basis within one calendar year of the start date of the loan.

  12. Cynthia applied for the following loan:

    Loan: 3000

    Speed: Asap

    Credit: Poor

    Location: Langley bc

    Income: 3200 net

    Reason:

    Catch up on bills.

  13. Janice applied for the following loan:

    Loan: 4000

    Speed:

    Credit: Fair

    Location: Maple

    Income: 4400 per mth. Also I receive my deceased fathers pension of 950 per mth

    Reason:

    To finish pay funrral expense for my fathers funeral

  14. DAN applied for the following loan:

    Loan: 700

    Speed: ASAP

    Credit: POOR

    Location: TORONTO ON CANADA

    Income: 2900/MONTH

    Reason:

    BILLS

  15. Bob applied for the following loan:

    Loan: 3000

    Speed: 24 hours

    Credit: Fair

    Location: St. Albert alberta

    Income: Employment 2700 Cop 700

    Reason:

    Family emergency

  16. Carly applied for the following loan:

    Loan: 2500

    Speed: Today, or tomorrow

    Credit: 467

    Location: Amherstburg

    Income: 1500

    Reason:

    To get out of debt.

  17. Mary applied for the following loan:

    Loan: 2000

    Speed: Right away

    Credit: Fair

    Location: Pennfield, New Brunswick Canada

    Income: $1019.00 - Superannuation $575.00 - CPP $485.00 - OAS

    Reason:

    To pay off some overdue bills and purchase necessary prescriptions

  18. Mary applied for the following loan:

    Loan: 1000

    Speed: Right away

    Credit: Fair

    Location: Pennfield, New Brunswick Canada

    Income: $2,372.00 - pensions

    Reason:

    To pay off outstanding bills and acquire necessary prescriptions.

  19. Michele applied for the following loan:

    Loan: 2000.00

    Speed: Automobile repair

    Credit: Bad

    Location: Fort-Coulonge Qc J0x 1v0

    Income: Seasonal worker full time employee receiving unemployment 1500$ clear + other money 700$

    Reason:

    Véhicule is in the garage won’t release it until I pay my bill

  20. Michele applied for the following loan:

    Loan: 200.00

    Speed: Today

    Credit: Bad

    Location: Fort-Coulonge, Quebec J0x 1V0

    Income: 1500$ clear on unemployment + other money 700$ Seasonal full time emoloyee

    Reason:

    Perfect up my car at the garage
    Automobile repairs

  21. Nancy applied for the following loan:

    Loan: 1500

    Speed: asap

    Credit: poor

    Location: RR2 Minnedosa MB

    Income: Pensions OLD AGE CPP PRIVATE PENSION About 1800 Monthly

    Reason:

    Pay hydro, TV and Phone
    Take our son back to Ontario
    We brought him out at xmas n now have to take
    him back to Ontario

  22. Ed applied for the following loan:

    Loan: 2000

    Speed: 2 weeks

    Credit: poor to fair

    Location: Lethbridge, Alberta, Canada

    Income: $4200

    Reason:

    delivery driver in need of van repairs

  23. Michel applied for the following loan:

    Loan: 2000

    Speed: Asap

    Credit: Poor

    Location: Ottawa,Ontario,Canada

    Income: 2200

    Reason:

    Overdue bills and rent

  24. Chris applied for the following loan:

    Loan: 3500

    Speed: As soon as possible

    Credit: Bad

    Location: Tsawwassen, BC, Canada

    Income: Heavy equipment operator earning roughly 2600 bi weekly

    Reason:

    Need cash to pay insurance as they are threatening to suspend licence which will cause me to lose my job if not paid ASAP

  25. Carmelo applied for the following loan:

    Loan: 300p

    Speed: Now

    Credit: Not good

    Location: New weat bc

    Income: 4500

    Reason:

    Have some bills that are overdue need to be paid orherwise will lose everything

  26. Elaine applied for the following loan:

    Loan: 5000

    Speed: Immediately

    Credit: Dismal

    Location: Edmonton Alberta Canada

    Income: AISH $1195 CCTB $450 CRHC $600 Spouse $1495 CPP/OAS

    Reason:

    To get supplies and inventory for my home business making jewelry for an upcoming trade show event. As well to pay off some outstanding current bills and older small ones

  27. Martina applied for the following loan:

    Loan: 5,000

    Speed: As soon as possible

    Credit: Fair

    Location: Chilanko Forks

    Income: 1,900

    Reason:

    I’m having bladder issues I have to go for more testing I need money to travel out of town for medical concerns I am willing to pay $150 bi-weekly payments

  28. Debra applied for the following loan:

    Loan: 1500

    Speed: Now

    Credit: Fair

    Location: Edmonton

    Income: I am paid 1947 direct deposits 26 th of each month.

    Reason:

    Car repairs and insurance so I can do courier work Need to be employed after disability for 4 years …need vehicle to do something I can physically handle.

  29. Debra applied for the following loan:

    Loan: 1500

    Speed: Now

    Credit: Fair

    Location: Edmonton Alberta Canada

    Income: 1947 direct deposited once monthly

    Reason:

    To repair and insure car so I can go to work in delivery service I have been on disability for 4 years and need to go to work at something I can physically do

  30. Nancy applied for the following loan:

    Loan: $4000

    Speed: Asap

    Credit: 511

    Location: Mississauga, ontario, canada

    Income: $2725/month (Long Term Disability) I am a Canada Post Employee of over 13 years (since March/2004). Have fell behind in my bills and medical expenses since Great West Life insurance expects me to pay up front for my Physiotherapy, massage, Accupuncture therapy before I get my treatments. I go to two different places for a car accident that occurred in March 2017, severe whiplash and neck degeneration (cervical spine) when not treated 3 times a week it aggravates my neck movement. Left foot reconstruction in May 2016, have been on Long Term Disability since December 2016. It would have to be installments of $200 over a 2 year period.

    Reason:

    To pay off my bills and medical expenses from a left foot reconstruction surgery in May 2016 and car accident in March 2017 and Poison Ivy in August 2017.

    I pray that 2018 will be a healthier year.

  31. Sam applied for the following loan:

    Loan: 2000

    Speed: Immediately

    Credit: Poor

    Location:

    Income: 4200 net

    Reason:

    Pay arrears on car. Looking to rebuild credit and pay off old debt. Need my car to keep working .

  32. Sam applied for the following loan:

    Loan: 2000

    Speed: Arrears for car

    Credit: Bad

    Location: Waterloo Ontario canada

    Income: Net 4000-4400 monthly

    Reason:

    To catch up on car bills. Can afford 250 monthly payback max. Need my car for work .

  33. Cheryl applied for the following loan:

    Loan: 2500

    Speed: Asap

    Credit: Poor

    Location: Brockville

    Income: 1600 take home paid weekly

    Reason:

    Pay down debts

  34. Jennifer applied for the following loan:

    Loan: 2000

    Speed: Asap

    Credit: Poor

    Location: Waterloo ontario canada

    Income: 1200 from odsp another 30p from p.t. jobs

    Reason:

    Consolidate a few small payday loans and credit card debt

  35. Erleen applied for the following loan:

    Loan: 3000

    Speed: right away

    Credit: 461

    Location: Prince George BC Canada

    Income: 2200

    Reason:

    small house repair

  36. Sharlene applied for the following loan:

    Loan: 5000

    Speed: Asap

    Credit: Poor / fair

    Location: Scarborough

    Income: 2000 per mth from 2 jobs

    Reason:

    To pay off urgent bill

  37. Andrew applied for the following loan:

    Loan: 7000

    Speed: Asap

    Credit: 500

    Location: Stony plain AB canada

    Income: 1500 weekly 3000 monthly

    Reason:

    Emergency expenses.

  38. Anonymous applied for the following loan:

    Loan: 3400

    Speed: Asap

    Credit: Poor low 500

    Location: Eastern Passage, NS, Canada

    Income: $2646 gross pay from full time employment

    Reason:

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