Maybe you've seen the promise: No-Teletrack Payday Loans. So what does "no Teletrack" mean, anyway?
Teletrack is a credit reporting agency, just like the other big three you usually hear about. When loan companies say "no credit check," what they really mean is "no credit check except for Teletrack."
The good thing about payday loans and cash advance companies is that they don't care about your normal credit reports. You can screw up with Equifax, Transunion and Experian big time, and it doesn't matter.
What they do care about, though, is Teletrack.
Because Teletrack is watching you too. And sometimes lying about you.
If you get a TV from a rent-to-own place, or buy furniture at a store that promises "no payments till 2099," or buy a used car at a "buy here pay here" lot, or get one of those credit cards for people with bad credit, or, hell, anything like that... Teletrack knows your every move.
You don't have to give permission. The lender secretly sends all the information about what you borrowed and when you paid it back and whether you were late for a payment to Teletrack. You can't stop them. There are laws that say Teletrack has to keep your information confidential and only use it when other lenders have a legitimate need to know, but they haven't even always followed those rules.
Big brother? Yep. Illegal? Nope. The federal government passed the Fair Credit Reporting Act which allows it.
My friend Jen needed a new refrigerator and she needed it right now because she was cramming frozen food in my little apartment fridge and everybody else's to save it, when her fridge died. So she went to a scratch-and-dent place that financed appliances cheap. They wouldn't sell her one. Said she was a deadbeat and they couldn't trust her.
Which was bullcrap. She just came out of bankruptcy, but she pays her bills on time now and she was approved for rent-to-own.furniture and if she stays away from places that check the big three credit reports, everybody trusts her, like they should.
Turns out, it was Teletrack's fault. They'd been collecting information on her, but now they were spreading lies about her.
In a way, Teletrack spying on her wasn't necessarily bad. Places were using Teletrack to tell each other that she could be trusted again, and they were giving her a second chance after the bankruptcy. But all that came to a screeching halt, just when she needed the fridge.
I suggested that she try applying for a "no Teletrack" loan, and sure enough, she was approved and got the fridge-money. When she was over here retrieving her frozen food, she used my printer to fire off a form to Teletrack, saying, what the hell's going on?
She heard back. Guess what? A month ago, her place had flooded and ruined a rent-to-own bed. Landlord's fault, leak in the apartment above, where he lived. He didn't want to pay. In the end, she made him pay and did everything she was supposed to with the rent-to-own place, but they "forgot" to tell Teletrack. Her report said she still owed for the bed.
She didn't have to take that. She called Teletrack and disputed: 1-877-309-5226.
They got after the rent-to-own guy, and they believed her instead of him because she had the receipt. She got it taken off her report, and now she can get approved for things again, even if they use Teletrack. But what a mess. It took weeks.
Bottom line: Teletrack is watching you. But you can watch them back. If you get turned down for a "no credit check" payday loan and don't know why, use the magic pdf file to find out.
If you know why and it's true and you really did screw up, just look for "no Teletrack" payday loans till things get better. Watch out, though. Some companies will advertise "no Telecheck." Well yeah, sure. They don't check with Telecheck, but they still may check with Teletrack, and think you're too dumb to notice the difference. Sneaky, huh? Telecheck is a completely different company that spies on your checking account, not your loans. Make sure they promise "no Teletrack."
10:11 p.m. January 8
This is really crap. I didn't know they were collecting all that. I think I'll change my social security number and go hide in a mountain, before they take our guns and put cameras in our bedrooms.
7:42 a.m. January 9
I can't open the form.
8:08 a.m. January 9
It's a PDF file. You can write a letter instead, just asking to see your credit report. Need to give name, address, social security number, date of birth, all that stuff, and send a copy of your drivers license. Oh, and tell them what company denied you a loan and when. That's all it is. Customer Service, Teletrack, 5550-A Peachtree Parkway Suite 600, Norcross, GA 30092.
3:37 p.m.January 15
Call them at 1-877-309-5226
8:17 p.m. January 16
They just told me I had to do it by mail.
7:00 a.m. January 17
Once you get your report by mail, you can start a dispute by phone at that number Johnsons gave.
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