No teletrack payday lenders offer short term high risk money to those in need. No teletrack direct payday lenders provide payday loans to borrowers in need of emergency cash and help countless hard working individuals in a financial crisis. A fast infusion of money can help you avoid eviction, cutting of your utilities or even bankruptcy.
What are Direct Payday Lenders?
The payday loans industry has two main players that operate and provide loans to borrowers. There are direct lenders and indirect lenders. As a borrower you will run across both types of cash advance lenders and it is important to know the differences to get the best rates for your loan.
An indirect payday lender offers loans as the middleman or broker between the borrower and the ultimate money lender. An indirect payday loan application is submitted to the indirect lender who then shops or forwards your application for money to various advance lenders. In simple terms, they act as middle man for your loan, and this means higher fees and charges. An indirect lender has the advantage of being able to shop your loan to multiple direct lenders so there is the advantage of a greater approval percentage for borrowers.
On the other hand, no teletrack direct lenders deal directly with the borrower, so the company you deal with is the direct lender of the money you borrow. In a direct lenders case the website is used as a means of adding value and ease of use to the customer making the application process easy and fast for your convenience. It is commonly the case that you can get lower interest rates and better terms when dealing with a no teletrack direct lender and your application is reviewed and processed faster. In most cases you can have your application reviewed and approved, and your money wired directly into your account within 24 hours, often even faster.
Consider Your Options
Consider your unique need for an emergency short term advance loan. If you find yourself with extremely bad credit or unique employment, you might benefit from using the services of indirect payday lenders as they can shop your application and your chances of approval increase.
Another consideration is your desired loan amount, generally no teletrack indirect payday lenders can only offer borrowers from $100 - $1500 in fast loans. Both offers have their advantages, the better program depends on your situation and cash needs, so be sure to consider carefully.
Hope this information is useful for you. For more detailed information on providers, kindly refer to the Right Pane.
Everything you need to know about Payday Lenders