What Does Your TeleTrack Report Say About You?
Do you know what’s on your TeleTrack report? Were you turned down for a payday loan or cash advance because of them? Here’s what you need to know about them – and how to get a free TeleTrack report…
TeleTrack (not TeleCheck) is a consumer reporting agency (CRA), owned by CoreLogic, that’s used by payday lenders, cash advance sites and rent-to-own stores.
Your TeleTrack report tells lenders:
- How many payday loans you applied for
- How many loans you have out
- If you have any loan chargeoffs
- If you’ve been sued by landlords
- If you filed for bankruptcy
You may wonder…
“Will I Be Turned Down for a Loan Because of a Bad TeleTrack Report?”
Not always.
If you defaulted on a loan before, some lenders will approve you – especially if it happened long ago and/or you eventually paid back the loan.
And if you filed for bankruptcy before, you’ll probably still get approved if you earn a steady income.
What About “No TeleTrack” Payday Loans?
Most no TeleTrack loan sites are scams.
They’re not direct lenders. They take your application and sell your confidential personal information to a bunch of lenders.
And the scary part is – you have no idea if it’s sold to honest lenders or shady offshore payday lenders (which is more often the case.)
Most non-TeleTrack sites prey on people’s misconceptions.
Instead of risking getting scammed by a no teletrack cash advance site, get the best payday loan you can by applying with one of the honest, state-licensed lenders reviewed on this site.
TeleTrack Do’s and Don’ts
If you’re worried about being turned-down for loans because of Teletrack, follow these tips:
Tip #1 – NEVER apply for More Than One Loan at Once
Cash advance companies can see if you’ve applied for other loans (and if you have loans out.) Too many applications in a 30-day span looks suspicious.
Apply for one payday loan at a time, and only apply elsewhere if you’re turned-down.
Tip #2 – Give Accurate Information
Payday lenders will verify you are who you say you are using various databases.
So give them accurate employment information (including employment history), a correct phone number (i.e. if they ask for “home phone”, don’t list your cell phone number – unless it’s your only number) and a valid address.
How to Get Your TeleTrack Report
There are two ways to get it, you can either click here for a TeleTrack form you can print and mail or call TeleTrack at 1-877-309-5226.
Is the cash store OK to use?. It seems like it takes all your money.
@Keg – Some brick-and-mortar loan stores offer long loan terms (30+ days) and low fees. However, they’re few and far between, so you’re usually better off looking for an HONEST online cash advance site (like PayDay One) that charges low fees and gives you more time to pay back your loan.
Some check cashing and loan stores charge as much as $20 for every $100 you borrow… and you have to pay it back or roll it over ever 2 weeks. That’s ridiculous! And you’re right – that adds up fast! Whereas, with sites like PayDayOne, you’ll pay about 75% less, making it easy to pay off your loan when you’re ready.
Hope this helps!
Mary Ann