LendDirect - Yonge St & Centre Ave Reviews 

Great organization, fast service, and many positive qualities—let’s agree that they have all of those characteristics. However, the main concern is that there appears to be a trap for clients once they take out a loan.

The biggest issue is that, after taking a loan, it can become extremely difficult for the borrower to get out of the debt. Instead of the balance steadily decreasing with each payment, the loan can continue to grow, even when the borrower has never missed a payment.

Loans should be structured in a way that clearly establishes an agreed-upon repayment period—whether one year, two years, or another reasonable term—with a repayment schedule that allows the borrower to pay down both the principal and interest and have the loan fully paid off by the end of the agreed term.

Another concern is the lack of convenient options for customers to make payments directly from their financial institution. The organization should provide the necessary banking information or an appropriate automated payment arrangement so customers can set up recurring payments through their own financial institution.

A loan should provide a clear path to becoming debt-free. Customers should be able to understand exactly how much they will pay, how long they will pay it, and when the loan will be completely paid off

Great company with quick response, the line of credit described, and terms outlined to me were set up exactly as promised. I get a withdrawal email notice with the remaining balance a couple of days before the money is withdrawn.