Approval Genie program helps struggling Canadians make their car payments
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Approval Genie has launched a new program to help Canadians in need keep their vehicles.
In a news release, the auto finance company called its PaymentAssist Program “a bold move to further its commitment to empowering Canadians.”
The initiative is designed to offer direct financial assistance to clients struggling to meet their car payments. If a client is concerned about making the next car payment, Approval Genie’s PaymentAssist Program will cover part or all of the payment if the client commits to working with the company’s credit redevelopment program coordinator on a tailored financial restructuring plan.
“Approval Genie has always been about helping Canadians overcome credit challenges and build brighter financial futures,” founder Ashish Bhattarai said in a news release. “The PaymentAssist Program is another way we’re stepping forward to ensure our clients not only survive tough times but thrive in the long term.”
To qualify for assistance, clients anticipating difficulty making a payment must notify Approval Genie at least three days in advance and provide supporting financial documents that demonstrate their inability to meet car payment obligations.
“No other company in North America offers a program like this,” Bhattarai said. “This initiative reflects our dedication to both our clients and the financial institutions we work with. By helping clients avoid car loan defaults, we’re fostering financial stability and supporting a healthier lending ecosystem.”
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The company said the PaymentAssist Program helps prevent car loan defaults while empowering clients to regain control of their finances, adding it benefits both clients and auto lenders by reducing delinquency rates while maintaining financial stability for borrowers.
Approval Genie said the initiative is complemented by its 12-month credit rebuilding program, which encourages clients to make consistent, on-time payments to improve their credit profiles and achieve long-term financial success.
