Posts by crimsoncyclist8

So how exactly is that supposed to be legit?

crimsoncyclist8 said:So, what I'm getting at is, they actually run a full background check on these quick cash advances just like they would for a standard mortgage or an auto loan? I honestly thought the whole point of those payday-style loans was that they’d push more volume under the radar without being so thorough.

Does anyone have actual confirmation on this? I’m feeling pretty pessimistic given my current mess with that other bank, even though I know for a fact I could handle the monthly payments no problem. 🙂

rapidskipper12 said:They can't see a thing unless you give them the green light. No consent, no credit products... 😉

The standard background check only flags your defaults, but the credit bureaus see everything—they track all your current debts plus anything you've already paid off, whether you're an individual or a business.

So basically, they still have full visibility even though that was pretty much strictly forbidden under GDPR until recently. Makes total sense.😁

rapidskipper12 said:DOR is basically an old blacklist, and OSR is just like what HROK used to be. 😉
DOR is just a database for swapping info on customers who missed their payments.
OSR handles processing and sharing data about current debts, plus anything already settled or closed by individuals and companies.

So, does that mean banks can only tell if you're a deadbeat, but if you've got, say, three different loans out there and you're paying them all on time, they're completely in the dark? Sorry, I'm just trying to wrap my head around how the plumbing works here.

The whole point of GDPR is to make sure your private info doesn't just get tossed around without you giving the green light. But here we go—they can see everything: who owes what, how much, if someone’s behind on a payment, the works. It’s got absolutely nothing to do with GDPR. It's pretty obvious that banks can basically peer into whatever they want...

So, what I'm getting at is, they actually run a full background check on these quick cash advances just like they would for a standard mortgage or an auto loan? I honestly thought the whole point of those payday-style loans was that they’d push more volume under the radar without being so thorough.

LOL, it’s not some massive scandal, the dog just had an accident. Now that they’ve rebranded it, suddenly they think they have a right to stick their noses into everything.🤣

I mean, sure, my bank can basically see everything I do, so how is this suddenly totally fine under the CCPA when it wasn't a second ago?

It’s honestly such a joke. So, because of GDP regulations and all that personal privacy stuff, nobody could see a thing for two years, but now, out of nowhere, they’re suddenly seeing everything without even asking you? Apparently, just because you had to check a box to open an account, they have a free pass. It’s completely mental.

And what’s this about the Department of Revenue shutting down? How does that even work?

Hey everyone, does anyone actually know if these quick loan providers run checks through HROK, or do they just look at how you handle your business with your bank? See, if they’re digging into HROK / DOR—whatever they’re calling it these days—I’m almost certainly getting a rejection. I had a bit of a situation a while back, and right now I’m working out a settlement with a lawyer over at Wells Fargo, but on paper, it looks like I just defaulted on a credit card or had some messy account activity. Now, if they aren't looking at the DOR and are just checking my internal bank history, then I should be golden; I moved my direct deposit over about three months ago, I’m staying current on my existing loans, and I don't have any overdrafts or extra credit cards hanging around. It also feels like they shouldn't even be allowed to peek at the DOR without me giving them the green light, which makes me think these companies might just be offering loans based on their own internal vibes and how you treat your specific bank. Has anyone actually verified how this works? I just want to know if there's even a point in trying

Nicholas Lopez29 said:If anyone out there is in a position to help me out financially, please reach out. I’m looking to clear some high-interest payday loans immediately just so I can get my credit score back up enough to qualify for a standard bank loan. I can have the money back to you within six months.

I'm in the exact same boat, honestly. If there's anyone willing to lend a hand—don't worry about the interest, I'll make it worth your while—I just really need to get my head above water right now. :/