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Michael’s Line of Credit Experience

Michael worked as a local security guard doing quite well to support his family, ‘til recently when he was blindsided with pay cuts his company was forced to take. Although he was fortunate enough not to lose his job altogether, it didn’t take long for him to realize the importance of reflecting on his previous financial choices and the significance of budgeting.

Meet Michael:

  • 48 years old

  • Lives in Scarborough, Ontario

  • Security Guard

With credit card bills and everyday expenses of supporting the family starting to pile up, debt consolidation quickly became a top priority. Michael thought his bank would be the best place to start, unfortunately they denied his request for a personal loan.

That’s when he turned to LendDirect. After visiting a local branch in Scarborough and applying for a personal line of credit, Michael was given a no-commitment, pre-approval decision within minutes.

After sharing with us his insecurities of his foreseeable employment, we discussed our Loan Protection Coverage. Feeling even more reassured, Michael completed his loan documents. Walking out of the store was the first time in a long time he felt relief, the weight had finally been lifted from his shoulders. Here’s a preview of Michael’s line of credit with LendDirect.

LendDirect

Bi-Monthly Statement

Approval Amount
(Credit Limit)

$10,000.00
 

Advance Amount

$7,000.00

Annual Interest Rate

46.93%

Estimated Payment
(with Loan Protection)

$242.09
 

Michael had no time to waste, but allowed himself his first long sigh of relief in weeks before reviewing his loan documents. He then worked with one of LendDirect’s Financial Service Representatives by asking a few questions about payments and the Loan Protection plan. Feeling even more reassured, Michael signed his loan documents and was out the door.

His no-commitment pre-approval decision was given to him within minutes of walking through the door. Michael had money in his account 40 minutes later.

Sound like you? Learn more about how a line of credit works

Michael Regained Control of His Finances

With the extra money his personal loan provided, he once again was able to provide for his family as well as buy some extra time to search for a new job with better pay and benefits. With Michael’s new job, it will be just a matter of time before he finishes paying off his debt. Debt consolidation can be very overwhelming and an ongoing battle; the next time you face these challenges, remember LendDirect is there for you.

The above information is based solely off of an illustrative example and is not based on a real person or a real scenario.

Get Your Line of Credit Today

At LendDirect we understand the difficulties that come with debt consolidation. We also understand the importance of receiving your funds in the shortest amount of time possible. Besides 100% honest, friendly and informative customer care - fast and convenient funding is something that we take great pride in. Start your application for a line of credit today by visiting a LendDirect branch near you or by clicking the button below to apply online. You can also apply over the phone by speaking with one of our Financial Service Representatives.

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