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Some lenders may offer payday cash advances to borrowers with past bad credit, although these loans may come with higher rates of interest and more stringent repayment terms. Borrowers who are unable to qualify for a traditional loan or bank card may still manage to access other designs of credit, say for example a secured plastic card or a credit builder loan. Some e-transfer payday loans canada 24/7 lenders might require borrowers to provide proof of income, for instance a pay stub or bank statement, as a way to qualify for the money. Debt consolidation involves combining multiple debts into a single, more manageable loan with a lower interest rate and more favorable repayment terms. A payday loan is a short-term, high-interest loan that is meant to be repaid for the borrower's next payday. Some payday lenders may offer rollover or extension options, which permit borrowers to increase the loan repayment period of the loan in exchange for additional fees and interest. Some payday lenders may require borrowers to deliver a copy of these utility bills or another proof of residency as a way to approve the loan. Borrowers should also consider the opportunity consequences of the inability repay the loan, including damage to their credit score and potential legal action. If the borrower cannot repay the borrowed funds on time, the lender may cash the post-dated check or initiate a digital withdrawal, potentially causing overdraft fees or other financial difficulties to the borrower.