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No Teletrack 24 Hour Payday Loans

By Michele Sand Subscribe to RSS | January 13th 2012 | Views:
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Many lending institutions provide no teletrack payday loans for people experiencing money difficulties. This loan does not include credit check so people with bad credit can also apply for this loan. It is possible to apply for no a teletrack payday loan online. After the approval the sum you request is transferred into your account within 24 hours.

Teletrack system is used for checking the applicant's credit history and account. By the help of this system, lending companies will expose your credit history, including outstanding checks and bankruptcy against current loans. As payday loans are secured short termed loans and they do not generally involve large sum of money, the lending companies don’t have to check out the facts provided by their potential borrowers.

Getting a payday loan is a fast way to get money for people that have bad credit history and those who filed bankruptcy. Lending companies provide urgent cash advance for a short time, often between 2 or 3 weeks. The loan amount usually may come up to $1,000. Payday loan companies charge higher interest rates compared to traditional loans so that to cover risks and provide fast service.

Payday loans application process

Loan companies tend to make the process of application for payday loans quick and easy. All you need to do is fill out an application form providing general personal data, bank account details and employment status. Sometimes lending companies ask to fax additional documents like electricity bill and driver's license. After an application gets approved, the money is deposited into your bank account on the same day or on the next day. The whole process takes little time as there is no credit rating verification; therefore the chance of approval come up to 100%.

Repayment

The date of repayment is specified in the application form. As a matter of fact in most cases it is the date of the next paycheck. Your lender will automatically debit the fee and fund from your account as soon as you are paid. If you cannot pay back on the due date, you should ask the lender to extend the repayment period several days before the automatic debit. Besides you can perform the repayment earlier. This does not involve additional fees.

Michele Sand - About Author:
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