There are numbers of fast payday loan lending companies which could be found online. One of these are lending agencies offering no teletrack payday loans which does not need to track your credit records unlike the unsecured payday loan. You have to be wise in selecting your lender and here reasons why you should choose companies offering no telecheck payday loans.
1. No faxing required. When you say no faxing, only the most important detail about a borrower is gathered like for example the complete name, address, mobile phone, billing information, bank account and others. You do not need to scan important documents such as banking transactions, certifications, etc. You will only be required to submit documents which do not require a fax machine before your payday loan will be approved.
2. Direct deposit of money. Once your application for the payday loan is approved, they will deposit your borrowed amount directly to your bank account. And during repayment period, you need not to pay your loan personally. The company will be sending you their online payment system such as credit card system or PayPal where you can directly send your payment or they will be the one to withdraw the same amount. You do not need to be bothered as to when is the repayment date for the payday loan but, your bank account will not be 100 percent secured and you need to make some necessary actions after the transaction is finished. In that manner, you will see to it that after paying your quick cash loan, no one can withdraw from your account aside from you.
3. Bad creditors are served with no teletrack payday loans. Even if you have a previous bad credit history, the company can give you the privilege to apply for this type of loan. They have their own way of handling this situation. When you apply for a quick cash loan, they base their approval on the amount of loan you are applying for, if how much you are willing to pay, and how much will they earn, of course. Meaning, this type of loan is definitely more costly than the other loans.
4. There are qualified borrowers. No teletrack payday loans may require you less information but they have a requirement for each borrower. You have to:
• Have a personal bank account;
• Have a fixed income (meaning you have a permanent job or an established business);and
• You should be of legal age, of course
As to the personal bank, quick cash loans are directly deposited to your bank accounts so whether you like it or not, you should provide them with the information. A fixed income in required to have a higher surety for the no teletrack payday loan to be paid.
Availing for faxless or no telecheck payday loans are much easier as you have read it. It gives you lesser time to apply, needs lesser documents to be submitted and lesser effort but, the lesser the effort the lesser the security for your financial account. If you have not paid your repayment too, you will be burying yourself to a terrible debt. Your interest will multiply as long as you settle your quick cash loan. You need to have a fixed income in order to avail of the service and if you are disabled, they may find a way to make things easier for you. They will do this by asking you of your current assets wherein you will no longer be applying for a no teletrack type of payday loan. Therefore, it is still best to check for types of loans where you will be secured, your account secured, and you can establish a two-way trust relationship with your lender.
Author: Charlyn June F. Lidua