New Bill Promotes Free Credit Scores to Expedite Debt Repayments

Provision in the Frank Wall Street Reform and Consumer Act (FACTA) Finally Allows People to Check Credit Scores Without Charge

credit scoresSince 2008, the United States of America has been dealing with a financial crisis the likes have which have not been seen since the Great Depression. A combination of massive unemployment in almost all sectors both public and private, totaling at around 16-20% (if you include those that are deleted from the labor force), plummeting prices in real estate, rising inflation, a devalued currency, and a skyrocketing federal deficit, has caused a slump which is expected to get much worse before it gets better. A primary issue facing the household sector is the growing number of defaulted debt.

The increasing rise in the amount of defaulted student, mortgage, credit, and business loans has significantly affected many Americans, especially the unemployed who are now having to deal with the inability to pay off debt, a decreased amount of disposable income to support their families (which results in application to social welfare programs), and a decrease in their credit scores, which further pushes them away from attempting to dig themselves out of their financial calamity.

To help curb the escalating crisis, President Obama signed in the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21st, 2010, which is tasked with reigning in the uncontrolled financial market, merging various financial regulatory agencies, and giving Americans more tools to help dig themselves out of the financial dump.

One such tool is a “minor” provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act which will now provide consumers free access to their actual credit scores. Previously, FICO scores were provided on a fee basis only. The Credit Reporting Agencies were making millions giving people “free” credit reports while charging a hefty sum for their scores.

That’s about to change. Section 1100F of the act requires issuers, lenders, landlords, utility providers and others companies that reject an applicant or take any adverse action as a result of the score to disclose it to the consumer.

Consumers will get the actual score used by the credit grantor to approve or deny the loan. This is key, because there are numerous scoring models used. (Known as industry-adjusted scoring). The scores the bureaus sell to consumers are often quite different than those received by credit grantor. For example, a score used for a credit card application is often higher than the one used for a mortgage app.

This new consumer bill is extremely important to consumers who want to repair their credit by referring to an accurate and cost free credit score. They will now have a much more accurate idea of how much they need to improve their scores to qualify. Credit Repair firms will also be able to make better judgments as to what services will best serve their clients.

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Prefer online platforms to get loans easily

These days, people are getting many services through online and it makes their life more comfortable. In the same way, they are able to get quick cash loans through online resources. There are many lenders available online and they are ready to provide loans to the people those who are in the need. Mostly people will need more money instantly when they are about to handle some emergency situations. But it is not possible for them to get the instant loans from the banks or other local private lenders. Therefore in such situations, they can approach the online lenders and get the money quickly.


Many online sites these days are being a direction for the people and they will guide them to the reliable lenders. When compared to the offline loan methods, people can have many benefits in this online mode. They do not have to submit any documents for assurance and also they are not needed to meet many eligible criteria to get the loan amount. Therefore they can get the loan amount without any trouble. Also they can get the loan amount within 24 hours and this is the main advantage in this online loan option. Like all other loan processes, here the applicants will have certain conditions.

This quick cash loans are also known as payday loans. It is because people those who are getting this loan will have to return the amount in their payday. If a person gets a loan on the day before his payday, then he has to return the amount in the next payday. This is the condition for returning the money in this loan process. To apply for this loan, the person must be an employer or he has to be a self employer. Though there is no need of any document submission, the applicant must submit his or her income details.

This will give the assurance to the lender that the person who gets the loan amount will return it properly. Some of the freelancers can also apply for this loan but they will have high interest rates. These are the conditions regarding with the employment status. Usually this online cash loans will be given only to the citizens of the particular country and the applicant must possess a bank account within this country. This instant loan option is not applicable for the people those are living in the country temporarily. This is one of the main things which are considered from the lender’s side.

Likewise getting online loans is easy and simple if the person has the above mentioned criteria. Therefore it is recommended that people can prefer these resources instead of applying loan in a bank or with the local lenders. But it is always better if people get the loan amount as they can return easily. Many of the people will get a huge amount and they will not able to settle it on the date. In such situations, they will be frustrated with the interest rates and huge debt.

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Applying For Quick Cash Loans

Applying For Quick Cash LoansThe ease of applying for quick cash loans can make people have buyer’s remorse if they don’t pay enough attention to the market. You see, it’s great that these loans are easy to apply for and give you an instant decision, but you have to know how to handle that privilege. Are you going to accept the first loan that comes your way? With these loans, sometimes you can check out the rates and the terms and conditions ahead of time.

I don’t know about you, but I’ve applied for one of these loans in the past, only to find out that I could have likely gotten a better rate had I looked further into these loans. I had wanted a quick out, and I guess I felt a little scared, intimidated, maybe even ashamed. Listen, hey it would be great if we all had emergency funds built up for everything that happened. Life doesn’t always work that way.

If you’ve got an emergency fund, great. If you don’t, work towards building one. But in the meantime, if an emergency comes up and you need to look at quick cash loans, don’t let it get to you. Furthermore, don’t rush through the application process. It’s quick and easy, so once you find the right company, it should be real simple to get the money you need. You just want to be sure that you’re going to get the best repayment terms and not be taking on too much interest.

How much money you need can even steer you towards a particular loan company or type of payday loan. Remember that there are return policies so to speak for these loans on most occasions, but of course you want to have looked over the terms ahead of time.

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Take Advantage of Cash Loans

Take Advantage of Cash LoansIn today’s economy, everybody has their own story to tell, as prices continue to rise, and jobs are becoming more scarce all of the time. Companies are downsizing, merging, going out of business and cutting hours, making it difficult for workers to count on the long term.

It is also very difficult for working families to set aside enough savings to cover financial emergencies such as appliance or automobile breakdowns, medical emergencies, or out of town emergencies such as relatives who are ill and require a visit.

This is where Fast Cash Loans comes in where a variety of lenders are screened in order to pick the one who will fit the profile of a borrower. In most cases, all that is needed from the borrower is a steady income and the fact that he or she owns a checking account.

Even if the borrower has a credit history that is a bit tarnished, getting a loan is usually not a problem. The loan application is made online, and when the borrower is approved, which is usually the case, the money is received fairly quickly in the form of a direct deposit to the borrower’s checking account.

The stipulation in most cases is that the amount of the loan, in addition to interest will be paid back at the next payday of the borrower. Some lenders will allow installment payments in order to stretch the payout longer, but the next payday works will for most borrowers, as the loan amounts are not very large. Lending from $300 to $1,000, makes it fairly easy to pay back the money as that is not as much as most paychecks.

Most working families are in the paycheck-to-paycheck syndrome and are finding it difficult to cope with any extra expenses, especially with the timing of situations that arise requiring a quick dose of funds.

Having a service such as Fast Cash Loans available allows a family to have some flexibility in knowing that there is a ready source of cash if it is needed. It is a great feeling of relief for anyone to know that if an emergency comes up, you can be prepared for it without having to worry where the money is going to come from.

With this system of borrowing money when a borrower pays off a loan, he or she is given the opportunity to raise the amount of money that they can borrow later on, and many times they are offered more liberal terms as well.

While the interest rates are higher on these types of loans, they are really not that much of a factor because the terms of the loans are very short, so the impact of the interest is not as great as it would be if the payback were to be stretched out.

This is money that people need right now, and the process of getting the money is so very simple and fast that is just the thing that people need at this time.

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Using Payday Loans

When you’re in need of quick cash loans, it’s not always easy to know where you should turn. However, there’s no denying that there is a broad range of services available nowadays to help you in your situation – so with a little research – you’ll be sure to find a solution to improve your financial situation.

Using Payday Loans

Perhaps one of the best strategies available for obtaining cash quickly is to take advantage of a payday loan. In most cases, these loans are very easy to obtain, and they rarely require a credit check either. In most cases, just as long as you can prove your identity and source of income, you’ll be able to secure yourself a payday loan.

However, the downside to these loans is that they often come with very high-interest rates – which can ultimately make it difficult to repay the loan. But if you are careful about how much you borrow, and you come up with a proven plan for paying the loan on your next payday, then using a payday loan is one of the best ways to get hold of the cash you desperately need.

Using Payday Loans

Checking Whether You Qualify

The most difficult aspect of getting a quick cash loan will be qualifying for the loan in the first place. With this in mind, it’s wise to answer a few questions to be able to learn whether you’re likely to get the loan.

First of all, can you prove your citizenship? Next, can you prove that you’ve been consistently employed for the last few months with a reasonable income? Are you at least 18 years old? Do you earn over $1000 each month? If you can answer all of these questions satisfactorily, then there’s a good chance you’ll be able to qualify for a quick cash loan.

The Benefits Of Quick Cash Loans

Of course, obtaining a quick loan can help your financial situation, especially if you’re facing an unexpected bill or large outgoing expenses you hadn’t planned. Fortunately, payday loans are very fast, and they usually pay you directly into your bank account within just a few hours.

Additionally, you can obtain these loans 24/7 thanks to the ability to apply for these loans online and receive an automatic response.

Use Comparison Sites

Another fantastic way to obtain one of these loans is to browse through one of the many online comparison websites, which specialize in compiling all of the latest deals in regards to payday loans.

This is a great way to learn more about the offers available, and you’ll also be able to sort through the loans by the lowest interest rate, or any other criteria which you find suitable. This can be especially beneficial for people who have been rejected for a quick cash loan in the past.


Overall, taking advantage of a quick cash loan can be very beneficial when you’re in a tight financial situation. If you keep this advice in mind, you will be able to decide whether a payday loan is a right solution for you.

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Payday Cash

Simple payday loans are great way to get a few dollars to get you through until the next payday. There are always unexpected costs that can happen to anyone. For many people who do not have a large savings account in a bank their life is a series of living from payday to payday. For these type of people an unexpected cost or event can be disastrous. Simple payday loans can offer a great solution to avoid unexpected disasters.

For example, recently my cousin was involved in a serious car accident that was not her fault. Due to the fact that the car accident was not her fault she will be paid for all of her medical costs, pain-and-suffering costs, and the repair of her car. While she is recovering however she will be missing work and therefore she will also be missing her weekly paycheck. Down the road she will be receiving some money from the guilty party’s insurance agent. Until then though she will need some money to pay her bills so that they do not go into arrears.

Payday Cash

The easiest and best way to do this is to obtain a payday loan from a reputable loan company. If you have a source of income from your employment then a payday loan company will provide you with the cash you need. This will allow you to get through whatever difficult times you are going through. In my cousin’s case it allowed her to pay her bills until she received her first settlement check.

I know many people who have used a payday loan for a variety of reasons. It is the best thing to do if you are in need of a few dollars for a short period of time. Therefore, do not rely on your bank for this type of loan but locate a payday loan site for a short-term cash loan.

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