What Is A Teletrack Cash Advance?
For those that have gotten payday loans in the past, they might not realize that a Teletrack cash advance was granted. There are some lenders that offer a Teletrack cash advance because they can easily pull this industry insider report, in lieu of traditional credit reports that most consumers are familiar with. The payday loan industry relies on this reporting system to let each other know whether certain borrowers repay as agreed or not.
In addition, there are some private online lenders that might not check Teleltrack. Cash advance limits can be set without you knowing it because if you already have a payday loan at another company, it can be discovered if a Teletrack cash advance company utilizes the report. You might think of a Teletrack cash advance as one where the lender has pulled the report and checked whether they can trust you to repay the loan or see if you make a habit of not repaying. For this reason, you always want to arrange the repayment you can afford to live with and you should never borrow money you can’t afford to repay.
If you ruin your report on Teletrack, cash advance lenders will not probably want to deal with you. That isn’t to say that there might be some private online lenders that advertise “NO Teletrack” cash advance options, but you might expect to pay more for these options. On the other hand, there is no need to worry about finding these types of lenders, if you have never gone into collections on payday loan borrowings. Those that have never taken advantage of them will not have a record, anyway.
If you are on your “last chance” because you have “stiffed” another payday loan lender, chances are that a Teletrack cash advance might not be an option for you because there are few other lenders that are willing to take this type of risk. These types of borrowings are collected quite aggressively and you should let the lender know, the minute it looks like you will have a problem covering a direct debit repayment or you write a check that might not clear.
Most Teletrack cash advance lenders are more than willing to set up a flexible repayment plan that suits your budget, if you explain the situation. Their main objective is to help you get through a financial crisis when one happens, and they make it quick and easy to get badly-needed funds.