Guaranteed Payday Loan in Bethlehem, PA – No Teletrack 200 Dollars –> I need a payday loan with no Teletrack. I am in Bethlehem, PA and only need $200 and can give security so it can be a guaranteed payday loan if we need to do that.
The two hundred is just to get me through to next week when my first paycheck comes from my new job that I started last week. I need gas and grocery money until then.
I am trying hard to get back on my feet and do not want to have to beg for money from friends or family since I have a job now and can take care of myself.
I did a good job of keeping my budget in line while I was on unemployment and hardly got any debt then, so my credit is good and I only owe a few hundred dollars to some family that I will be paying back as soon as I get everything back on track here.
So will you help me out with this and tell me where I can go to get a no Teletrack guaranteed payday loan for $200 bucks - right quick?
Lenders Notes: This is as normal as it gets in the PDL world. Applicants often just need a small consumer loan for under $500. This was approved within minutes of applying, and he had the money in his checking account the next morning by 9:30 AM. Below is a little bit of data on the approval, including effective APR, fees, and pay back term. He paid a fee of $30 per hundred, so yes, very expensive, but he paid the loan back a week later when his employment check went through into his account. As usual, he gave the PDL company a post-dated check for the cash.
- PDL Fee = $30 per $100 borrowed
- Total Fees Paid = $60
- Term Length = 1 week (6 days)
Effective APR = 1560%
Please take a good look at the effective APR in this example. Over 1500%! Hard to believe that this can get so high. However, the customer here paid this back on time and what’s done was done. Hopefully our friend never has to be in this tight of a financial situation again.
A Note On No Teletrack Payday Loans
If you are not that familiar with non-teletrack payday loans, they are small consumer loans (PDL, Cash Advance) that are approved by the lenders who don’t bother with doing a Teletrack check before approving and funding their customers. Simple right? No, it’s not that simple, because these kinds of lenders are not as plentiful as some people are led to believe. Many PDL lenders claim NOT to use the Teletrack service, but indeed, they DO!
So the Teletrack credit service is simply a database provided by a company called CoreLogic and they digitally track the “bad apples” of the customers that use PDL and Cash Advance companies. These bad customers are those that either fail to pay back a PDL company due to bad organization and responsibility, OR they purposely choose to not pay back the lender(s). These customers do what is called “loan skipping”, and they never have any intention of paying back the lender(s). If you have a black mark on your Teletrack record, you will declined for a payday loan right away, IF the lender uses the CoreLogic Teletrack service.
If you do find a small consumer loan company that actually doesn’t use the Teletrack service, they will undoubtedly be charging the highest APR and administration fees allowed by the State they are processing the loan from. The fee rate is usually $30 for every $100 borrowed.
Some payday loan companies that do use CoreLogic’s Teletrack system still charge the highest fee of $30 for $100, but I’m just saying that non-teletrack lenders will ALWAYS charge the max they can.
Some people are searching for No Teletrack loans, already know they have black mark on their Teletrack history, and they are “skippers” – they are trying to take advantage of lenders and basically steal from them. Note that the keyword here is “SOME”. The majority of PDL customers fully expect to pay back their loan(s), and do so. See Wiki quote below;
Payday loans carry substantial risk to the lender; they have 10-20% default rate, and according to one study, defaults cost payday lenders around a quarter of their annual revenue. [Source - Wikipedia]
See citation below from one of our PDL affliates (Nationwide – USA);
Always pay back payday lenders and cash advance companies in full – on time. Don’t play with fire, and be an honest customer. The repercussions can result in possible criminal record, and at the very least, and poor credit score, and destroyed Teletrack record. [LL Cite] [Time-Stamp 2011-09-25, 21:53:06]
Disclaimer: The views expressed by this author don't necessarily reflect the opinions of Lazerloan.com, it's owners, or it's affliates.
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