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Borrowers should look into the long-term consequences of a payday loan before accepting it, such as the potential affect their credit standing and financial well-being. Bankruptcy can be a legal method that can eliminate most unsecured debts, including payday loans, although it can have serious consequences for the borrower's credit score and financial future. Borrowers who're considering a payday loan should be conscious of the potential affect their credit history and financial well-being, and will only borrow what they are able to afford to settle. Some payday lenders advertise themselves as an option to traditional loan companies, but they are certainly not subject to exactly the same regulations and oversight as banks and lending institution. Some lenders may offer pay day loans with no appraisal of creditworthiness or minimal documentation, which can make them particularly attractive to people that are in a very hurry to obtain cash. Some lenders may offer payday loans vancouver cash advances to borrowers with a medical history of bankruptcy or any other financial difficulties, although these loans may come with higher interest rates and more stringent repayment terms. Borrowers who will be considering a pay day loan should be aware of the potential consequences of default, including a lawsuit, wage garnishment, and damage with their credit score. Some payday lenders may require borrowers to offer references or contact information because of their employer or any other sources of income. Some payday lenders may need borrowers to provide a copy of their tax returns or another financial documents to be able to approve the loan.