subject: Knowing No Credit Checks Payday Loans [print this page] The financial institutions with an eye to serving the larger interests of society have decided that the majority of them will not opt for any sort of credit checks prior to granting loans for a short term. The loans have to be cleared within a week to 20 days and as such the checking on the credit is not considered to be currently important.
Previously the credit check was required to find out if the borrower had the capacity of returning the amount taken as loan. The majority of lenders are currently giving loans without checking anything. These no check Payday Loans can be availed of by anybody who has a permanent job with a steady income. The only checking that is done is on previous loan taking records. These details are given on the borrowers application. In such instances the assistance of Teletrack services is availed of. The loan is restricted only for those who have been regularly defaulting on previous loans.
Quick money can be got from no check payday loans by eligible customers without the hassle of documentation. This loan is invaluable in times of financial crisis. Since repayment has to be done quickly the borrower is relieved of future tensions. If the borrower plans on a quick holiday then the loans will help in materializing plans without delay. These loans are handy also for repairing or for meeting the expenses of sudden occasions be it birthdays, marriages or funerals. Unlike other loans no overdraft fees are charged for this loan.
It is very simple to qualify for this loan plan. The first condition is that the applicant has to be permanently employed drawing a regular income. He or she should be employed at the same place for a minimum of continuous three months. The credit score of the borrower is not given importance and as such no checks are made. However the loan amount granted will be proportionate to the earnings of the borrower. A nominal scrutiny is conducted by taking the services of Teletrak or Telechek. The checking is complete within minutes and so does the approval nod.
Approval does not involve any hassles. It comes through fast. No queuing up or making appointments are required for No Credit Check Payday Loans. The required amount goes into the customers account instantly once the approval comes through. The repayment of such loans is also easy because it is debited directly from the account on a previously fixed date when repayment is due.
Those with a moderate history of credit can also apply for these loans. The money is deposited electronically. The charge levied for the entire process is negligible. Currently no handwritten applications or faxed messages are necessary. All formalities can be completed online. Secrecy is maintained. The service towards the customers is polite and cooperative towards all.
