A few years back it was very difficult for anyone to raise money because of the complex procedures involved before taking it. The lenders used to investigate full information of the borrowers before granting cash to them. Yes, it was a problem for the borrowers with bad credit. They were not able to borrow money because of bad credit history. But now the things have changed. The mindset of the borrowers has changed. They have become more risk averse and want to earn more profit. A new scheme that has gained a lot of importance these days is no teletrack payday loans. This is a short term scheme with no bad credit history check.

The borrower does not have to put extra effort or time in getting the no teletrack payday loans. They just need an internet connection to apply for it online. The borrower is required to fill the mandatory details in the online form. Once application is done. It will be approved in hours by the lender. After the approval, the money will be credited to the borrower. The various formalities like paper scanning and faxing, filling forms and getting them approved are not part of this procedure. Lots of time of both borrower and the lender is saved in this scheme. The borrowers with bad credit history get the most benefits out of it. As there is no teletrack, the money is credited to them with no tensions. There are some requirements to be met by the borrower which are:

1.Valid bank account from at least last six months
2.Citizenship of US
3.18 years of age or more
4.Steady permanent job with Income of $1000 per month

It will not cross check any previous track record. No teletracking will be done by the borrowers. So, it will save your approval time also. But the rate of interest on these advances is very high. The lenders do not ask for any collateral or security from the borrowers.