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What is teletrack?

Submitted by on Thu, 02/05/2009 - 12:03
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I have/had this illegal payday loan. I revoked ach, which they have honored. I owe around $200 from the original principal that I am willing to pay (when I can in about a month). I got an email from them saying they are giving me 3 days to pay or contact them to make arrangements....but, they say that I owe $438 and they are offering me a one time settlement amount of $557? How is the settlement more than what I owe? Anyways, they said that if I don't pay it will be on my credit report and teletrack for 7 years. Can an illegal (Malta) pdl do that? What is a teletrack anyway?


do other companies that you have loans with in the past know through teletreck that you are now applying for another loan with another company?


Submitted by on Mon, 08/10/2009 - 21:13

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Ace still uses them. I got denied today (Have no clue what could be on a teletrack report for me) Oh well, I took it as a sign that I should get sucked into payday loans. Just swallowed my pride and asked my sister for the money. Problem solved.


Submitted by on Mon, 07/20/2009 - 19:42

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kfstaff24, while I agree, how do you suggest teletreck to determine the legal lenders from the illegal lenders? There is just only so many people working. They are after all a reporting agency just like credit reports. You have to stay on top of it, and make sure what's being reported is correct.

The best advice you can give someone is to get a copy of your report (which you can get) and dispute the illegal ones.


Submitted by beli2005 on Fri, 02/06/2009 - 10:41

beli2005

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I was once a more valuble tool than it is today. Over the last year, Advance America, ChecknGo and ACE have stopped using Teletrack. While they have given up on the service, there are still many legal lenders that do use it to aid in the approval/denial process. The logic is "If the customer has "stuck" another lender, they will "stick" me!"


Submitted by PDLOwner on Fri, 02/06/2009 - 06:46

PDLOwner

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[color=Green]there are some pdls that dont do teletrack, but which ones that doesnt do them?? i know mostly uses teletrack but for sure there are some out there that doesnt use teletrack. but how can we tell if that pdl company uses teletrack or not?? i have so many loans but ace still approved me. i guess they dont do teletrack. [/color]


Submitted by hsanidad08 on Thu, 02/05/2009 - 16:11

hsanidad08

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Teletrack IS NOT a credit reporting agency. It is an agency that pdls and places like rent a center use.It means only that other PDLs will see that you did not pay a loan and will not loan to you. IT is a joke. Please do not think it is a credit reporting agency it is nothing.


Submitted by on Thu, 02/05/2009 - 14:19

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