Payday Loan Company Expands Credit Service Relationship
By J.J. CameronPayday Loan Writer
In order to better serve its clients, all EZMONEY stores will now have a partnership with PRBC, a national credit reporting service.
Last November, Texas and Florida EZMONEY Loan Services began offering to report their customers' payday loan payment history, if so desired to PRBC. Because customer interest in the service has been high, EZCORP will expand the service to all of its 263 EZMONEY locations.
Traditional credit bureaus do not track or score payments of all no faxing payday loans, including those offered or brokered by EZMONEY. This history, along with other payment histories a customer may report to PRBC, creates a PRBC Bill Payment Score (BPS). This BPS can be used to supplement a traditional credit report and score; or, used in the absence of such a score to gain a more complete and accurate assessment of a client's creditworthiness. Neither EZCORP nor PRBC charge customers a fee to enroll in payment reporting or to make credit checks.
Joe Rotunda, EZCORP's President and CEO, said: "We are excited about the high level of interest in PRBC to date, and the opportunity to better serve our customers by helping them establish or rebuild their credit."
EZCORP is a quick cash loan lender to individuals who do not have cash resources or access to credit to meet their short-term cash needs. In 281 EZPAWN locations, the company offers non-recourse loans collateralized by tangible personal property, commonly knows as pawn loans. At these locations, the company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value.
In 263 EZMONEY locations and 83 EZPAWN locations, the company offers short-term non-collateralized loans, often referred to as payday loans, or fee-based credit services to customers seeking loans.
