Monday, July 20, 2009

No Fax Paycheck Loan

no fax paycheck loan

No Fax Paycheck Loan

When you apply for no fax paycheck loan, the lending agency would not follow a telecheck or teletrack method to track your personal details. Lenders normally do a telecheck to track the repayment pattern of your previous loans, in case of normal loans.

No fax paycheck loan is a sure shot method to get an emergency loan when you are facing a dire need. Other types of loans would require a telecheck and your application might be rejected if you have had bad credit in the past. You should normally go for these sorts of loans only when you do not have any other financing options and you will be able to pay back with your subsequent paycheck.

For no fax paycheck loans, all you need to do is to fill up the application form. You will get the loan amount deposited in your checking account within 24 hours. Sometimes, the loan is sanctioned within minutes. The payday loan lending companies do not do any credit check or verify your past details. These companies do not require any collateral. The only backup that the company has is your post-dated check. In the teletrack loan, the lending firms normally just verify if you have any outstanding debts.

No Fax Paycheck Loan - How To Qualify

If you want to apply for no fax paycheck loan, you should be a citizen of the United States. You should be at least 18 years of age. Your salary should be $1500 or more. You should have been with the company that you are working for the past six months. You need to furnish the full details of your checking account. A checking account is necessary for this type of a loan.

No Teletrack Paycheck Loans

You should give a post-dated check for no fax paycheck loan amount along with the processing fee to the lender. The lender would directly deduct the amount electronically from your checking account.

If you are not able to pay and need an extension, you should get the necessary permission from the lender. If your check is declined, you would be charged double the fees for default. Normally, the lender would charge $20 for every $200 borrowed. You can get an extension with higher interest rates.

However, it would be better not to ask for extension for these no teletrack paycheck loans, given the higher interest rates. These loans are good only for short-term loan requirements. If you think that it would take more time for you to repay, better march towards your local bank for traditional loans. You will save on a lot of money.

You can apply for no fax paycheck loan with no credit check required.

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