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Therefore, the rollover would be subject to the presumption of unaffordability in § 1041.
Job Loss means that you are collecting Employment Insurance benefits because of layoff, dismissal without cause, unionized labour dispute, legal strike, or lock out.
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That exception would generally apply when the amount that the consumer would owe on a new covered short-term loan would not be more than 50 percent of the amount paid on the prior covered short-term loan (or, if the transaction is a rollover, would not be more than the amount that the consumer paid on the prior covered short-term loan being rolled over).
Step 5: If approved by MDFAB, request will be sent to State Controlling Board for approval and disbursal of State funds.
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