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 Posted: Fri Apr 20, 2007 8:50 am Subject: Payday Lender Not Licensed`help |
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Hi,
I applied for a Payday loan through a lender who is not actually licensed in Washington State. Now it is showing as an inquiry on my teletrack report. Since they are not actually licensed in my state, can i get the inquiry off of my report with teletrack by disputing it?
Alison
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alikeith
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| Posted: Fri Apr 20, 2007 9:28 am Subject: |
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i am not sure about getting it off your report, teletrack is used by payday loans and other subprime lenders so it doestn really hurt anything else...
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Leah
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| Posted: Fri Apr 20, 2007 11:15 am Subject: |
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You should report the company to your state attorney general for running a business without a valid license. What's the name of the company?
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BKP
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| Posted: Fri Apr 20, 2007 11:49 am Subject: |
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The reason i need to get it off my teletrack is becasue i am appying for a loan thru my credit union. They show 2 inquiries but say they have no way of knowing if i have a balance. Therefore they are requiring that i get a letter from the company, on their letterhead and signed and submit that as prood. Well i have called both payday places and neither will give me a letter so i am in a bind.
discountadvances.com is the company that i am showing as not beign licensed in Wa.
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psrodeo
Joined: 19 Apr 2007
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| Posted: Fri Apr 20, 2007 11:50 am Subject: |
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Yeah it does make it impossible to get a loan through your credit union. Although, I imagine that your credit union could contact these companies to inquire if the balance was paid in full or if you still have one...
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Leah
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| Posted: Fri Apr 20, 2007 12:02 pm Subject: |
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they wont contact them. i even had one of the lenders willing to do a 3 way call and the credit union said nope, they need a letter.
The credit uonion usses a system similar to teletrack to verify. The union had said that it should drop in 30 days, but if it doenst then what? I am confused though if it does run through teletrack or not
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psrodeo
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| Posted: Fri Apr 20, 2007 12:05 pm Subject: |
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I suspect you would have to contact the company that reported it and dispute it with them. IF you paid the loan then they should have no problem either sending you a PIF letter or removing it from teletrach
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Leah
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| Posted: Fri Apr 20, 2007 12:09 pm Subject: |
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heres the funny thing, i never actually had a loan. No balance. I tried contacting both places for a letter and none will do it
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psrodeo
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| Posted: Fri Apr 20, 2007 12:10 pm Subject: |
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HOw long ago was this? If you never got a loan and you just inquired then it should fall off in the 30 day period
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Leah
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| Posted: Fri Apr 20, 2007 12:12 pm Subject: |
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really??? i inquired on one mar 23rd and one mar 26th. Teletrack told me it woudl take 2 years.
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psrodeo
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| Posted: Fri Apr 20, 2007 12:17 pm Subject: |
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If you never got the loan then it should fall off after 30 days...at least that is how mine worked for me when I didn't get approved for one...The ones I did take out now they will be on there for the amount of time that is required but I know the 3 I did not get are gone and have been gone for some times
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Leah
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| Posted: Fri Apr 20, 2007 12:24 pm Subject: |
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ok, well i am close to that mark then, I will just have to wait it out and hope. I wonder why teletrack told me 2 years for an inquiry? loosers! Do you know if its updated the day of the 30 day mark? or the end of the month that the 30 day falls in?
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psrodeo
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| Posted: Fri Apr 20, 2007 12:50 pm Subject: |
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I didnt go back and check it right at the 30 day mark...It was probably a couple of weeks later. I hope that this all works out for you...I am just going on what my personal experience was with it
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Leah
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| Posted: Fri Apr 20, 2007 1:05 pm Subject: |
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Well thanks for your help. It helps! I am sure it will drop off soon based in what your telling me. I will just have to wait and see.
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psrodeo
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| Posted: Fri Apr 20, 2007 1:07 pm Subject: |
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Best of luck to you  Oh and BTW-DONT EVER TAKE OUT A PAYDAY LOAN...They are the devil trust me
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Leah
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| Posted: Fri Apr 20, 2007 1:35 pm Subject: |
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Well i cant say that i wont. I like them through my credit union because they let you split the payments over a couple pay periods and they only charge $10.00 per $100.00 I try to not do them that often.
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psrodeo
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