Epic Loan Techniques and IDology Partner to boost Prospecting Process

ATLANTA, GA – EPIC Loan techniques, the industry’s many revolutionary and effective loan administration system, and IDology, a number one identification verification provider, today announced a partnership to enhance the lead assessment and underwriting procedure when it comes to cash advance industry. IDology’s identification proofing solutions happens to be incorporated with EPIC Loan Systems to deliver clients with exclusive and effective insight about the credibility of an individual throughout the lead assessment and underwriting procedure.

“It is very important to us to produce our clients with an extensive identification verification solution for accurate real-time lead evaluation,” stated Devon Cohen, President of EPIC Loan techniques. “IDology’s many years of expertise in the payday industry in conjunction with the initial features they provide will allow our clients to reduce acquisition and underwriting expenses by giving effective identification verification tools.”

EPIC Loan Systems’ provides turnkey solutions for loan providers to process leads more efficiently and determine the absolute most lucrative borrowers, while simultaneously deploying and underwriting that is managing configured to isolate and reject high-risk customers and prospective fraudsters. IDology’s solutions offer a really versatile and identity that is configurable solution that escalates no credit check payday loans online in Michigan to a greater degree of verification whenever required and quickly determines some one is who they state they truly are.

“Our partnership with EPIC Loan techniques really helps to quality that is instantly separate from others,” stated John Dancu, CEO of IDology. “We put an emphasis that is sole identification when you look at the payday industry which our present customers find become excessively useful in reducing their expenses. Our expertise within the identification industry assists clients quickly assess leads and identity that is key critical towards the loan underwriting procedure.”

About EPIC Loan Techniques

EPIC Loan techniques is made by highly-experienced payday industry lenders whom respected the necessity for better, more effective system technologies that may meet up with the rigors of today’s more demanding financial, regulatory and online-based market challenges. The business is led and handled by a completely independent group of professionals with over 75 several years of combined financial industry administration experience. EPIC’s end-to-end technical solutions have actually set a brand new standard for automating industry most useful techniques and making the most of payday loan provider operational profitability. With a sizable group of regular designers and help staff in-house, EPIC is well equipped to make sure every customer leading-edge systems performance and service that is best-in-class. To find out more, please check out or phone 877-305-8742.

About IDology, Inc.

IDology, Inc. provides real-time technology solutions that verify an individual’s identity and age for anybody performing company in consumer-not-present surroundings to simply help drive income, decrease costs, avoid fraudulence and satisfy compliance laws. IDology’s approach that is unique identification in the payday industry has helped top online payday loan providers increase the quality for the leads they buy while reducing underwriting expenses and bringing down defaults. Launched in 2003, IDology may be the only provider to provide an on-demand modification administration device which allows customer business-unit supervisors to manage the complete proofing process, including within a built-in solution, and never having to count on internal IT resources or contact IDology’s customer care.

Escaping the Cash Advance Debt Pattern

An incredible number of Texans remove loans that are payday 12 months. Consequently, countless people be accidentally caught within an endless cash advance period. Pay day loans are particularly tough to escape for the many people who reside paycheck-to-paycheck. You end the vicious cycle if you ever wondered how to get out of a payday loan, there are additional figures along with suggestions that may help.

Texas Payday Advances by the Figures

Payday financing in Texas is really a business that is vast accounting for $5.8 billion in yearly income. Because pay day loans come at this type of high price (APRs averaging 200-500%), nearly all of this cash comes to your cash advance industry by means of charges and refinance costs. a extra boon derives from installment lending, which increased by 112percent from 2012 to 2015. These loans along side refinances amounted to a normal apr of 567%.

The Influence of Texas Pay Day Loans

Nearly one in five payday advances end in defaulting from the loan. For Texans whom can’t spend their loan back in the agreed upon time frequently roll within the loan, or come right into a unique loan contract with in the future. Because of this solution, a charge is charged but could pay for you additional time to cover the loan back. Cash advance loan providers frequently anticipate borrowers to need certainly to move on the loan before the next paycheck is gotten and so your debt period starts. It really is because of this that a lot of loan that is payday offer meager basic prices to attract in consumers.

Escaping the Cash Advance Debt Pattern

Borrowers that are later on a quick payday loan or shortage the way to back pay it have options. If developing a budget that is strict your home and making sacrifices/adjustments so that you can take back supplemental income fail, it may possibly be time for you to phone your cash advance loan provider and have for a prolonged re payment plan (EPP). Should your provider does not provide an EPP, perhaps you are in a position to restructure other lenders to your debt, searching for a settlement program, or by firmly taking away a debt consolidation reduction loan.

If taking out fully another loan is not feasible due to an embattle credit score or other mitigating facets, you should think about getting credit guidance. A credit therapist can really help a debt is created by you management intend to repay your pay day loan and acquire away from financial obligation. Customers who choose to just simply take this task should be sure to get credit guidance from the US Trustee approve agency that is counseling. By ensuring your credit guidance company seems regarding the US Trustee’s list, you’ll be able to utilize this certification in a bankruptcy petition, should you determine to register a Texas bankruptcy.

Your final means to fix escape an online payday loan is declaring bankruptcy. You can eliminate debt by filing for Chapter 7 or Chapter 13 bankruptcy in Texas if you’ve exhausted all other debt relief options. Before doing this, nonetheless, you need to speak to a Dallas bankruptcy lawyer to make sure that bankruptcy security is really a rational choice offered your finances. Furthermore, debtors whom file bankruptcy without having a bankruptcy lawyer are less inclined to have got all their pay day loan debt discharged at the final outcome of this bankruptcy situation.

Texas Credit Card Debt Relief

Apart from the strict federal and state regulations and limitations put upon pay day loan and car name loan providers in Texas, some treatments makes it possible to eradicate the financial obligation from the monetary instruments. These choices consist of EEPs, credit guidance, debt negotiation, loan consolidations, and bankruptcy. When you yourself have been swept up within the pay day loan debt period, produce a call up to a Plano bankruptcy lawyer to have assist in closing it for good. Making use of Chapter 7 or Chapter 13 bankruptcy, you may well be in a position to expel your appropriate responsibility to cover straight straight straight back payday advances totally.