Bad credit payday loans

money, debt, manWhen a person gets the tag of bad credit, he finds it very difficult to get out of it. Lenders fear bad credit and refuse any loan to borrower with bad credit. Fortunately, Payday Loans USA has linked up with a few lenders who are ready to offer payday loans even to people with bad credit score.

Such loans are known as bad credit payday loans with no credit check. Payday loans are available to every borrower in the USA whose credit file has been tainted defaults, arrears, bankruptcy (+ wiki) etc. However, borrowers are needed to fulfill basic criteria regarding payday loans:

1-The borrower must have citizenship of the USA!!
2-The borrower must be a major!!
3-The borrower must have a personal bank account!!

The third criterion is important in the sense that the payday loans when approved will result into a direct deposit of loan proceeds into the bank. Besides, borrowers can take the bad credit payday loan by placing a collateral as well. This collateral will be a post dated cheque. Again, the cheque has to be drawn on the personal bank account of borrower.

Payday Loans USA sources bad credit payday loans according to circumstances and requirements of people. The source of all the deals at Payday Loans USA are the lenders who are into the lender network. Borrowers, many of them with severe credit problems, do succeed to get quotes on competitive terms on their bad credit payday loans application.

Swiss Bank UBS Almost Lost $31 Billion USD!

The Japanese unit of the largest Swiss bank UBS nearly lost 30 trillion yen because of a computer errors. it was about to spend 3 trillion yen (31 billion dollars) to purchase bonds of Capcom, a manufacturer of video games. (Bloomberg Report).

USB Bank officials then explained that they were going to place an order for the purchase of bonds in the amount of 30 million yen (310 thousand dollars), but due to an error, computer added Five zeros to the order.

According to UBS, the deal was concluded on the OTC market and has not been recorded in the Trading System of Tokyo Stock Exchange (BBC Report).

According to Capcom, Famous producer of game series Resident Evil and Street Fighter, the Tokyo Stock Exchange canceled the deal and they apologized from the company. Cancellation was requested by UBS, who also asked for forgiveness for the mistake. This event however did not had any major impact on the trading session.

Free credit report

A Free credit report like paid credit report contains information regarding your credit history. This data is collected by a credit reporting agency. These credit reporting agencies then sell this information to credit providers like banks and lending institutions and of course the credit card companies.

Your Credit report consists of following components. although formatting is done by each credit reporting agency differently.

1. Your Present and Past Addresses
2. Total outstanding debts
3. Record of payments (e.g regular, late, missed, collection etc.)
4. Public record information like liens or court judgment and decrees against you
5. Your Employer’s name and address
6. General data like your social security number, marital status, age group etc..
7. Importance of Credit Report

It is a wise thing to keep track of your credit history. Checking your credit report every six months will keep you updated on your financial standing as well as It will give you a lender’s perspective of your credit worthiness. It is also a good way to stay informed on how your credit transactions have been recorded by credit report providing agencies. A typical credit report will also cover one of the following areas:

Credit Fraud:

Credit Fraud happens all the time. Its when some one uses your credit card to go on a spending spree. US Laws protect from transactions made on a stolen card. You maximum liability on such transactions never exceed $50. These kind of unusual credit activities might red flag your credit report for some of the lenders.

Identity theft:

Identity theft is quite common these days. It happens when some one takes your social security number or account numbers and other personal information and starts opening accounts and spending money. Its a crime and very frequently it happens. Checking your credit report early and regularly helps you detect and prevent such liabilities as a credit report lists all applications for credit and credit card that were approved or rejected by lenders.

Credit Reports Request:

Each time you apply for a credit card or a loan, your potential lender requests for your credit report from one of the credit reporting agencies. This request for credit report is also noted in your credit history. If you apply at too many places and too frequently in a short period of time, It is not good for your credit worthiness and clearly shows that you are desperate for money and thus a credit risk. A regular check of your credit report makes sure that all such inquiries have been made on your own request and no un-authorized access to your credit information is happening. If you identify any such case. the inquirer has broken a law and you can sue them for good.

Incorrect Entries:

To err is human. Even the use of computers has not eliminated the errors from being made. Data Entry can be faulty and often someone else information can be posted to your account. This can also mean that the payments you have already made might not be recorded in your report. Checking credit report and comparing it against your own records help you point out inconsistencies in credit reporting agency’s credit records.

Payment Journal:

You have been mailing your checks regularly. but the main delivery system can be faulty. This can cause repeated late payments or even missed payments appear on your record. All this can lower your credit score and make you a bad credit prospect. Check your credit report to make sure all such payments are accounted for in your report.

About Credit Reporting Agencies:

There are 3 large credit reporting agencies. Equifax, Experian and Trans Union. All of them charge different fees for a credit report. While they all are doing almost the same stuff, Their reports are not always same. Each company has its own formula to calculate your credit rating. aka. Credit Score.

They will always provide you the Credit Score but will never share with you the method by which they arrived at that particular number. So It is a good idea to check your credit report from all three agencies. Following are their addresses and contact information.

Free Credit Report

Do you know that you are entitled by law to get a free credit report for all the agencies once in a given period? (usually an year). So before you spend any money on getting a single or merged credit report (from all three credit rating agencies) Check out if you qualify for a free credit report. According to a Lawyer you are entitled to get one free credit report each year if you fall in one of these categories.
free credit reports

– You are entitled by law to get one free credit report each year If you are a resident of one of the following states
3.New Jersey
6.Georgia In Georgia, you can request two free credit reports. (Lucky Georgians)

– If you are denied of credit card or loan by any institution and they based such decision on report of one of the credit reporting agencies, you may request a free copy of your credit report from that credit reporting agency. but you got to act within 60 days of such refusal.
– You are entitled to a free credit report if you are unemployed and looking for work.
– You are also entitled to get free credit report if you receiving social assistance or welfare.
– Victim of frauds are also entitled to get free credit report.

Please leave a comment if you have any questions or comments. Have a nice day!

25 cent charge appears on millions of credit card statements

25 cent chargeForums, chat room and blogs are recently overflowing with complaints from credit card users from across America. Those customers who are complaining are talking about a mysterious $0.25 cent charge on their credit card statements.

These 25 cents have been charged by Adele Services, Melville, N.Y. A simple search on internet reveals that there is no such company in Melville. even more surprising is that no business by this name was ever registered in state of New York.

People are presenting many theories for explanation of such absurd charges. One is, that it is quite possible that some one got his hands on a large database of credit card numbers and customer information. they are trying to verify the credit card authenticity before ringing up bigger charges on these cards.

Second one is more like a movie story. It suggests that computer systems at clearing banks have been infected with some Trojan horse code and It is ripping 25 cents from each of the billion credit card account. and the money is being transferred to some unknown swiss account via thousands of automated bank transactions.

The second theory, how absurd it may be, seems to be very popular among consumer protection groups and people at large.

The Better Business Bureau in Louisville reports that, at least so far, those who have been hit with the small charge have yet to get slammed with a bigger charge. The bureau speculates that the number of possible victims could be in the millions.

The number of people affected by this is not clear as there has been no official explanation about this by VISA or MasterCard. Neither did any bank issued any statement or warning to its customers. Still it is estimated by consumer groups that this is most likely a result of data theft or someone using a computer to ring these charges.

Please take a detailed look at your recent credit card statements, and if you find any such charge, don’t let it go. call up your bank and dispute it. Filing a dispute with your credit card company and lodging a complaint with the Federal Trade Commission ( and the Internet Crime Complaint Center ( is very important. Internet crime complaint center is run by the FBI, the National White Collar Crime Center, and the Bureau of Justice Assistance.

Federal law enforcement officials tend to react swiftly when the complaints exceed a certain volume. so check your statements and ask your friends , family and co-workers to check their. It is very important. Be Safe and have a nice day.