No fax verification (Teletrack checks) Payday Loans with easy approval that are guaranteed by the lender – now that is a fast and easy loan that some Payday lenders claim to approve. They guarantee that they will give you an approval within seconds of applying online, and they claim that you can be approved for up to $3000 (usually $500 – $1000) in minutes. They say they can give these loans within seconds because they don’t verify your credentials with a fax in of your personal information, such as where you live, your job, your street address, etc. They say they will deposit the $1500 dollars with no questions asked into your checking or savings account, and you will have the money in your account in under 30 minutes after you have filled their application form.

Do you believe such a Payday lender exists?

Apparently you do, or you wouldn’t have found this loan subject matter. If a Payday loan company claims that they will give you a super fast and easy borrowing experience whereby you don’t have a Teletrack credit check carried out, and they guarantee your loan approval even if you have really bad credit, there is something seriously out of balance, and they are not being completely forthcoming. Throughout the lending process they use, there will be a time when you WILL have to provide some personal information, and certainly they will run your loan request through the Teletrack system. If you still believe that a Payday Lender exists that will deposit funds directly into your checking account without ever checking to see if you have a history of defaulting, then by all means read on. Here are 5 reasons why a cash advance company with all of these lending traits don’t exist.

Guaranteed No Verification Easy Approval No Fax Payday Loans with Bad Credit – Problem #1 – No Faxing

When a Payday lender doesn’t require a fax of your personal ID, your last pay stub, and your SSN, etc., they will be checking out your personal story using a phone. This lenders can claim to never use Teletrack, and never require a fax with your personal information on it, and that is because they are verifying the information you give them on the phone. They type in all your information into their database, and then they get on the phone and call your employer, your bank, your references, the Department of Motor Vehicle (DMV) in your State, and even the utility companies you pay bills to every month. Or, they use the typical credit checking system that conventional (NOT Payday Loans) banks and lender use to verify you as an acceptable credit risk as a borrower.  They’ll use the same big three credit bureaus that all lending institutions use – Experian, Equifax, and TransUnion.

That will them the information the need to make a judgment on your loan application – there is no guarantee they will approve you, so always remember that when see web sites that claim to guarantee Payday Loan approvals.

Guaranteed No Verification Easy Approval No Fax Payday Loans with Bad Credit – Problem #2 – The Guarantee Ploy

The reason some Payday Loan companies advertise that they Guarantee approval is because it’s a marketing numbers game. They know that by advertising a guaranteed approval of their cash advances, they will have that many more applicants attempting to get approved by filling out their online application form. Of course there is NO SUCH THING as a guaranteed loan when you are talking about personal loans of any shape or form.

These companies would guarantee you anything to get you on their web site, or through the door, so they can check out your credit history and perhaps make a huge profit from the massive APR they charge. Did you know that if you borrowed $1500 FOR 31 days that you would end up paying over $300 dollars in interest on the loan? Outrageous isn’t it?

So when they offer an iron-clad guarantee to you that you will get approved quickly and easily, you won’t unless you have an excellent credit rating, with a FICO higher than 650, and a perfect debtor track record. So once more…….there is NEVER a guaranteed loan and this includes Payday Loans.

Guaranteed No Verification Easy Approval No Fax Payday Loans with Bad Credit – Problem #3 – No Verification

This is a typical “more fish in the barrel” marketing strategy that I described above. Of course they will verify that you are who you say you are, that you are gainfully employed, have a decent credit score, no negative reports from Teletrack, Experian, TransUnion, and Equifax, history of stable residence, proof of borrower viability.

Each Payday loan operation will verify your details in different ways, and using different technology, but the fact still remains the same – they want to know everything about your person before ever approving you a loan

Guaranteed No Verification Easy Approval No Fax Payday Loans with Bad Credit – Problem #4 – Easy and Fast Hassle Free Approval Ploy

Easy and fast approval CAN be afforded you as a customer, and I have seen this – especially with good credit applicants, but it’s rarely that fast, easy, or hassle free. The lender wants as much information as they can possibly get out of you before they go ahead and consider your application. It’s only going to be as easy as you make it by providing the documents they need.

So if you have a fairly high credit rating, a job, a great references – it might be an easy, and lightning speed Payday Loan cash advance. You don’t have to wait a few days for them to pour over your application if you have superb credit and an extremely stable home life and employment.

They may as well put their advertising this way;

“Easy, Fast, Hassle Free, Guaranteed Payday Loan with No Need for Faxing and Verification IF you have perfect credit, a secure job, and a FICO score of 750.”

Guaranteed No Verification Easy Approval No Fax Payday Loans with Bad Credit – Problem #5 – Instant Loan

The other marketing trick used by Payday loan companies is the Instant Payday Loan claim. This is the most ridiculous promise I have ever heard. Some of these misleading advertisements claim that you will see $500, $1000, $1500, $2000, as high as $3000 dollars deposited instantly into your bank account and it will be handled 100% online.

So let us picture this type of Payday Loan for a second shall we.

You go online (just like you did today) and you search for a Payday loan company that claims to provide extremely fast $3000 dollar loans with no verification of where you live, where you work, your SSN number, your credit rating, and your basic existence. They claim that they lend money to people who don’t even have heart beats.

You click into their web site and find their application form and you fill it out, including your your checking account number, your bank transit number, your full name, etc. You click submit, and the $3000 dollars instantly shows up in your bank account and waiting for you to drive down there, withdrawal a few hundred bucks and head on down to the bar – OK….grocery store.

Yeah…….no…….this ain’t gonna happen my friend.

You WILL have to wait some time for the verification and approval process. You WILL have to prove that you CAN pay back the loan – that DO have a steady job, have NEVER ripped off another lender (at least in the last 7 years) and that you have a recent history of paying your creditors on time and in full.

There is no Easter Bunny either.

Related posts:

1. Easy Approval Bad Credit Loans – Not Payday Loans Trying to qualify for a bad credit loan with an easy approval process, AND it’s NOT a Payday loan? Well look not further, because getting approved for a loan if you are a borrower who has a really bad (poor) credit rating is next to...
2. Faxless Bad Credit Guaranteed No Check 24 Hour Payday Loan With Savings Account – Hmm.. A lot of people these days have been looking for a guaranteed 24 hour payday loan but I don’t have a checking account and only a savings account. The odds of finding this kind loan get slimmed down a great deal especially if you have...
3. Direct Lender Payday Loans in Newark, NJ (Faxless in New Jersey!) Newark, New Jersey has many Payday Loan lenders and the surrounding areas of Newark are riddled with different Cash Advance providers as well. Today we are posting a list of these short-term lenders for borrowers in your area. Always keep in mind the cost of...

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