Dealing with Teletrack

Are you sure they aren't federally regulated? I would think they would be, since they do consumer reporting.

I don't know of anyone that has "cleared" their Teletrack report, because all it really keeps you from doing is taking out more pdl's or any rent to own type stores. Pretty much high interest crap. So it's not totally a bad thing that you have negative marks on your Teletrack report.

I agree with goudah. I know my teletrack record is crap but I don't care because I don't care to ever get another pdl or get anything from a rent-to-own place.

It was also my understanding that teletrack was just used for pdl's??? If that's the case, I certainly wouldn't worry about it because I'll be damned if I take out another pdl!

Just to be clear...

Teletrack is the nationwide database used only by Payday Lenders and rent to own operations. They have no bearing on your credit report or ability to get a bank account.

telecheck is a nationwide database as well - but is used by banks to trace fraud and NSF checks written by potential customers. If you try to open a bank account and have a Telecheck record that shows fraud or NSF checks or a bank account closed with a negative balance, you will have to find a bank that doesn't use Telecheck (our member Goudah has compiled a list for each state). And Telecheck makes it difficult to clear your record, from what I understand.

Hope this helps.

Oh, suebee, thank you! Now this is where all the confusion comes from. Clarified now! TeleTRACK is only for pdl's (big whoop to them!) but telecheck is for actual banks and bad checks and stuff. Thank you. I think this is where I and others have been getting confused. The names are so close. Maybe this is why the pld's keep throwing that out to everyone. Because they think (as we have been) they're talking about TeleCHECK. Thank you so much. Man, I never stop learning. LOL!

Wal-Mart uses telecheck. If you bounce a check to Wal-Mart, watch out. Telecheck reports this to Chexsystems! I thought my Chexsystems record was clear until I requested a copy and saw Telecheck was on there, even though I had paid the check I bounced to Wal-Mart!

What? Even though you paid the check? It was still on the Chex report? Is that right? If they report to Chex, but you pay it, shouldn't it be removed? Or it is something goofy like it stays on there until you die? Oh Lord. I think everyone in the world has bounced a check at least once!

Yeah! I had already paid the check. See it went through and was returned twice, then telecheck collected on it and I paid it. I think once someone reports you to telecheck, it stays on their for five years! I think that I will order a copy of my chexsystems report and see if it's updated. I was pi$$ed!!!!

Teletrack is a credit reporting agency subject to the Fair Credit Reporting act just like all the others.You can get this info direct from their website.

telecheck is actually easy to clear up - You pay the item. Once the bounced check is paid the item is removed.

Chexsystems is the one that is hard to clear up. Even if you pay it is not removed, the reporting bank is the only one that can request removal. You can dispute, but if it is a valid item then it's not going to be removed. Them item stays on for 5 years, and makes it hard to open another bank account.

thanks for clarifying that goudah!