Most people at some time in their life make some mistakes that they really are not very proud of. Not only can these mistakes have huge financial implications but they can actually make life a bit difficult in general as you try to focus on getting properly on track, rather than just ignoring all of the bills that are piling up. Making an effort to clean up your past is always great, but there are times when it is not possible to clean up all of your mistakes before moving on. Payday loans can be just such a problem, if you default on a loan often you are reported to a company called teletrack. Being reported to teletrack is much like being informed that you have bad credit, to the payday loan companies you are considered a risk and many will not loan money to you with this reporting. In order to remove your listing you would need to find out the name of the lender that reported you, and pay the debt that you owe, or provide proof that the debt was already previously paid. This is simply not something that is possible if you are desperately needing a payday loan.
A no teletrack payday loan is provided by some lenders and it completely bypasses the process of a teletrack check, which can allow borrowers to obtain a payday loan even if they do have transactions that were previously reported to teletrack that are still showing up. Trying to get a payday loan if you have a listing in the teletrack database can be a huge problem, getting a loan from a lender that does not check teletrack is typically much easier; however you may need to pay higher rates in order to get the loan. Once you find a loan that you are able to be approved for you will typically find that the process is quite quick. You can always sort out the potential lenders that use teletrack with those that do not simply by asking a quick question. If you do not ask the lender you will likely not know the answer, however if you take the time to inquire it can help you to avoid wasting time on lenders that are not suitable for your needs.
By using a No teletrack Payday Loans not only does your previous experience with payday loans not matter, but you are also able to reduce the amount of time that you are spending continuously being turned down for a loan that will actually fit your needs. Defaulting on a payday loan in the past does not mean that you should always be punished for the rest of your life, however cleaning up the previously defaulted payday loan is not always possible when you are strapped for cash which makes finding a no teletrack loan the best option. Fast approval of payday loans is almost always possible, but getting a loan that does not require teletrack at all will always go much faster since the required documentation is quite a bit lower than even typical loans.