5 expenses of return to school and 5 payday loans online to finance them

We are already in September and in a few weeks, our children will start going to school. It is a time of reunions, back to routine … and a lot of spending. Many families will have to face all the costs associated with going back to school, but not all of them have the necessary money. A solution to cover all expenses without leaving our accounts to zero is to apply for personal loans online.

Expenses associated with the return to school

The return to school is a challenge for our pockets, somewhat depressed after the summer holidays. However, if we go a little money, we can ask for a personal credit online to meet the following expenses:

  1. Enrollment: in public schools, this cost is € 0, but students of private and arranged schools must pay about € 235 on average.
  2. Textbooks: it is one of the most important expenses, although we can save if we buy them through parent associations or get second-hand books.
  3. Uniforms: the purchase of clothes also makes the return to school more expensive. It is estimated that in public centers this expense reaches € 130, in the concerted reaches up to € 200 and in private reaches € 250.
  4. School supplies: notebooks, pens, folders, markers, backpacks … Separately they do not involve much expense, but in total the school material costs about € 50 per public school student (€ 100 for students of schools and € 130 for students studying in private centers).
  5. Associations and clubs: many children will also return to their extracurricular activities, so the cost of the fees for clubs and associations is added to the cost of returning to school.

In total, the Federation of Independent Consumers Users (FUCI) calculates that the return to school means the disbursement of € 846 per student. If we do not have that money, we can get up to € 900 instantly thanks to the personal online loans granted by many private companies.

Requirements for payday loans online

To be able to access a payday loan online through Wild Mountain 110 we must comply with the following conditions:

  • Be of legal age and reside in Spain.
  • Have a sufficient source of income to return the personal loan online (payroll, pension, unemployment benefit …).
  • Have an active bank account and our name.
  • Provide a contact route (mobile phone number and / or email address).

Precautions to avoid becoming over independent with online personal loans

These online personal loans are designed to deal with specific emergency situations, so it is not advisable to use them as a normal means of financing. If we do not return the money on time, late interest will be applied to us that can worsen our initial situation and may leave us over-indebted. To avoid penalties for non-payment, it is advisable to extend the term of the personal credit online whenever the company allows it. Asking for the extension will have a cost, but it will always be cheaper than not paying.

Payroll seizure in Canada

Payroll seizure is a legal order of the court in Canada that allows a creditor to whom a person owes money to seize a percentage of that person’s wages until his or her debt is repaid. A creditor can not simply enter your salary; there is a procedure to follow that must generally be observed:

  • First, a creditor must obtain a judgment from the court; it is an acknowledgment on the part of the court that the creditor has a claim on the debtor.
  • Then the creditor must be granted an attachment.
  • If there are no physical assets that the creditor has access to, the creditor will usually send a seizure to your employer and pay it back.
  • Your salary will be seized until your debt is repaid.

Payroll seizure is common with those who have no assets or capital that could be used to pay off your debt.

In Canada…

There are provincial and federal laws governing the type of property that can be seized.

In general, laws are similar across Canada with the exception of British Columbia and New Brunswick.

In British Columbia, household goods and appliances cannot be seized by a creditor.

In New Brunswick, creditors cannot do a payroll seizure.

Creditors can not enter a line of credit because there is no real money to take.

But they can grab money directly from your bank account.

In some provinces, creditors can not seize more than 30% of a paycheck from your employer. While in other provinces, the rules are much more complicated.

If your salary is currently under seizure, it is important that you contact an authorized insolvency agent to provide you with information specific to your province.

How can my salary be seized if I am self-employed?

Unfortunately, the self-employed can see up to 100% of their wages seized. Most of the rules regarding payroll seizure apply only to fixed job wages. Do not panic, while it is possible for a creditor to take 100% of your salary, most will not. If a creditor takes a reasonable percentage of your income, you will be less likely to change jobs and thereby change the amount they can take.

Finally, in order to capture the income of a self-employed worker, the creditor must deal with one of his clients. This sometimes leads to complications since a seizure is only valid for a certain period of time. Thus, it requires the creditor a good organization in collecting their money.

When will the creditors take my salary?

Unfortunately, there is no concrete answer to this question. Creditors do not always capture wages, even if debtors have stopped making payments. Generally, it takes time and energy for creditors to come to seize your salary.

How to stop the payroll seizure?

If you currently have a creditor who threatens to seize your salary, a creditor who has already obtained a court judgment or even a creditor who has provided a seizure to your employer, you are still able to stop the seizure of happening.

Here are some of your options:

  • You can quit your job and by the same token will not get any wages. While this is a valid option, it may not be the best option for most people.
  • You can contact your creditor and negotiate a new repayment plan and ask to cancel the seizure.
  • Apply for a personal loan and use it to repay the creditor who threatens to seize your salary.

If your salary is currently being entered and you want to stop the process immediately, your two best options are either filling out a consumer proposal or going bankrupt. Both of these measures lead to a stay of proceedings. You are thus protected from creditors. Remember that a consumer proposal and a bankruptcy will prevent the seizure of your salary, but will also affect your credit as well as your financial situation- Bankruptcy Solutions.

Need financial help?

If you are currently going through a financially difficult time and need help, we can help you find the best option to manage your debts according to your personal needs.