Industry News & Information

As we continue to find ourselves in the midst of a recession, many will probably wonder if they'll still be able to get a cash advance if they don't have a job. Well, fortunately it is possible.

In the payday loan industry so many terms get thrown around it can become confusing.

The senate in South Carolina is currently debating placing caps on payday loans.

Online payday loans are also known as cash advances, because you get cash in your checking account with the agreement that you will pay it back on your next payday.

You have probably heard all the hoopla about how bad it is to take out an online payday loan. Yes, the interest rates are pretty high and yes, a lender may harass you if you miss a payment.

Often times individuals who apply for payday loans are keen to know if the lender uses an agency (bureau) called Teletrack. The Teletrack agency checks the background of the borrower to determine their whether they are eligible for a cash advance. Generally the lending history of the borrower is checked along with verification of identity, a general risk assessment and fraud detection.

With the recent economic recession, many individuals may find themselves strapped for cash at the checkout counter this holiday season. There are so many family members, yet so few dollars.