How to Find Affordable Payday Loans Without Teletrack

Payday loans can be an absolute nightmare for people with bad to poor credit.

They get a nice chunk of cash deposited directly into their banking account and many find they can not make the payment(s) about two weeks later. Or a vicious cycle begins of borrowing, repaying, and borrowing again. A typical payday advance loan company can charge between 365% to 1000% in interest depending on the amount and time of the loan.

For the most part, they are bad news and they should never be looked at as a long term financial solution. But in real time of need, they may be your only option. If you choose to use a reputable no teletrack payday loans service with bad credit accepted, you need to look out for a few things and understand basically how they work. First, never pay any fees upfront. If you use a service online, make sure they are located in the US. These companies have to follow new state regulations and their fees are clearly stated. In fact, they often have a “Fees” section which allows you to choose your state, amount, and duration of the loan. Then it calculates your exact costs of the payday advance.

The payday loan operates like a typical bank but much faster. They will ask for your salary, employment verification (most of the time they will call your job), they will get your address, phone number(s), social security number, personal references (sometimes) and bank account information.

Many online services will also want you to fax them your bank statements and pay stubs. Without this verifiable information, there is a very small chance you’re getting a payday advance loan. Once you’ve sent them all your information your approval chances are very high since almost all of them do not do a credit check. But they all check to see if you have other outstanding payday advance loans or if you’ve defaulted with another payday advance loan company.

And unlike going to your local payday advance loan store where the approval can take up to an hour or more, the online services are pretty much instant except it may take an hour or so for them to call your place of employment. Once you are approved the funds are transferred into your bank account by the next day.

When your payment(s) come due, the payday advance loan online service will withdrawal straight from your bank account. So insufficient funds are a very bad idea since they will penalize you and your bank will hit you with an NSF charge. That’s why all of these companies want to know when your next 3 or 4 paydays are.

There are many companies you may want to consider for a no teletrack cash advance.

Usually, there is no faxing, no setup fees, and a pretty quick approval process. This all depends on how much you borrow and for how long. Another bonus is that you can choose to make payments on your loan or of course pay off the entire amount once your next paycheck goes through. Borrowing amounts range from $100 to $1000, depending on your state laws and your history with them. No partial payments allowed in most states.

If you find other payday lenders either locally or on the web make sure their rates are no higher than an APR of 365%, no setup fees, and they will let you pay off the loan early with no penalties

Good luck and please remember payday loans are not a long term solution to any financial problems.

If you have to have two or more payday advance loans within a 4 month period you may want to consider debt consolidation or a second job.

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