The financial world is a great mystery for us who may not understand much about it, so it is sometimes difficult for us to understand certain terminology that we are not familiar with and therefore it is hard for us to understand what some of the products offered by different entities. Understanding what payday loan without a bureau offered by our Sutpen family platform is about will allow you to appropriate a little more of these difficult to understand terms.
When we talk about a payday loan being free from a bureau, we are talking about a financial service that can be requested by you at any time and with really few or no restrictions, which is a great advantage considering that most entities banking companies greatly limit the delivery of payday loans of any kind to users with a series of conditions and restrictions that in the end, turn out to be unnecessary routine procedures that take away the possibility of obtaining a loan and therefore, to continue with the debt or not being able to give himself that pleasure he was waiting for.
The bureau is a term that we may have heard at some time by a bank advisor, used elegantly to tell you that it is not possible for them to grant you payday loan for its use. For those who have not yet been the doubt, we want to tell you that the bureau can be understood in several ways, in some countries it is recognized as a company or entity, for others it is considered as a society, but in what both definitions coincide is that They are responsible for verifying information about the behavior that the applicant has had.
Whether a natural or legal person, against previous payday loans.
With this information, companies that offer financial services or those that request bureau information such as car rental companies and mobile phone services (although these no longer pose a major problem) have the ability to decide if the person requesting payday loan is a good candidate to access some of its products, without fear that it will not be able to meet its payment obligations. Of course, being honest, the truth is not something that can assure for sure that the client will pay fully, because the inconveniences are the order of the day and anything can be presented. That is why we offer payday loans without a bureau, since this information does not in any way hinder the client’s request.
If we search we can then find that the main objective of the bureau in payday loan matters is to support the economic activity that moves nationwide, providing entities with the necessary information, which facilitates the path of opening new payday loans to customers, being a support to improve the administration of the business, avoiding the generation of expired portfolios, which can limit their liquidity, taking away the possibility of having sufficient resources that can be used later for their financial growth and thus, continue to provide their services.
But do not think that these entities or information systems can be delivering their information indiscriminately to anyone who requests it. These companies have very strict rules considering that in our country citizens are protected by the habeas data law.
It can only be delivered in the following two cases:
That the company or person holding the information is the one who requests the delivery of the data, offering at the same time everything required to verify that they are the owners of the payday loan.
That the company or banking entity to which the payday loan is being requested is the one who requests the information, with the prior authorization of the holder so that it is reviewed.
It is important that you understand that the payday loan Bureau is not the one who defines whether the financial service you are requesting can be approved, since this decision is express from the entity to which you are requesting the service, be it a bank, delivery companies payday loan cards, a financial lessor, mortgages, auto financing entities, department stores, among others.
Now that the term is a little clearer
We can then understand that loans without a bureau are a financial service provided by Sutpen family, our online platform, so that you may not have such good reports by the entity or who simply has not yet had his first payday loan, can access one with us to help him out or overcome some difficulty he may be going through. By this we do not mean that our operation is not transparent, because not considering this information for you may sound strange, but it is quite the opposite.
Our company seeks to give you the necessary opportunities that may have been denied elsewhere given your bureau, but which in reality cannot be considered as the rule for all your payday loans. Our operation is completely transparent and we are protected and protected by national laws, giving them their due compliance. Simply as a private entity we have the possibility to choose if this is a determining factor for us, so much so that it can generate the non-approval of a service.
That is why we chose to provide loans without a bureau, so that you do not have to worry about minor setbacks that you may have had in the past and that now affect the decision making by the financial entity when requesting the approval of a payday loan .