GOUDAH/SASSNLUCY - HELP!

I know that alot of PDL's do report to Teletrack, which is also used by places like Rent to Own stores, for example. What kind of store was it, and is she sure it was Chexsystems?

In most states, a postdated check can not be considered a bad check because the person accepting the postdated check does so knowing that the money is not available.

Kscornell...Queen posted the info under the post Zip Cash ...

ks, I believe it was Walmart.

Wow, Chexsystems does check approvals? I thought places like Cynergy did it???????? I thought Chexsystems was only checked when someone was opening a new account.

Cannr - the release GECC wants me to sign off specifically states


"neither Company nor any of its Representatives shall place any derogatory mark on Borrower's credit report with any credit bureau, or any other check writing database, such as TeleTrack or any equivalent database."[quote]

I hope this helps give you some peace of mind. I think when all parties agree to PIF you could ask for this kind of statement in order to protect yourself.

That is exactly what my release from ZIPCASH states as well. If she has a copy of this statement, she should be able to rectify the situation, correct?

I would think so - I don't have it on all of my PIF's but at least I now know what to ask for if I should have any problems.

You know, my PIF's didn't state that. Wait. Maybe one did. But only one. I'm still confused. How in the world can an illegal pdl report an illegal debt to chex systems? Or to anyone for that matter?

I had a couple that said that and one WAS zipcash. It will all work out. This is the craziest thing! Who in the world could have imagined this one?

Now I am completely confused. A PDL reporting to chex
can this force checking accounts to be closed
Queen
are you sure it was chex not telcheck or something else. This is a potential problem for all of us working so hard to protect our new accounts

Yeah, are you sure it was Chexsystems? I don't understand why a store would use a system like that. There are so many other systems geared towards retail establishments. Like telecheck, which shows if there are any outstanding bounced checks. Chexsystems doesn't show if you've bounced a check, only if you owe a bank money, commited fraud at a bank, or abused your bank account. Plus it is only for banks, so I don't see how a pdl could even report. They could check the report, and an inquiry could show up, but I don't see how they could report anything to it.

ChexSystems provides data related to how a consumer has handled deposit accounts at banking institutions.

Even if she was reported to chexsystems, she that should not affect her check writing ability. Wal-Mart deals with telecheck as far as I know.First, I would call Wal-Mart and ask them if they are using Telecheck to authorize checks. If the answer is yes, I would recommend is giving Telecheck a call. If it is Telecheck that stopped her from writing it, they will be able to tell her exactly what the reason is.

Declined Check Information
for Check Writers 1-800-366-2425

Could she not call them and see what the problem is? Wal-Mart and most retailers will give you a slip that is printed off the register with a phone number to call to find out what the problem is. That happened to me once and it turned out it was a mistake when I called. That would at least give her information as to what is stopping them from accepting her check.

OK, just was reading the zip thread so disregard my previous post since she has done this....sorry! :oops: One of those days I guess.

I may be mistaken, but I don't think pdls can report using Chexsystems either. telecheck is wha WalMart used to use and I think still does. My oldest son worked there as a manager, and one time my check was declined-I was mortified tosay the lease. Anyway, I called the number they gave me, and they entered an account number one off from mine. This also happened once when I went to a smoke shop, and the same mistake was made. Like others said, call Wal Mart, and see what they say-it could just be a mistake. Let us know what happens..Karen

So, if you have any unpaid PDLs, telecheck with reflect that?

Not necessarily. Not all pdl's report to Teltrack. But most do use it. So it would show as an inquiry when you took out the loan, and the status of the loan would show.

I guess that would mean if you had unpaid PDLs, that could be the reason why Queen's check wasn't accepted?

I don't really write checks at all, just use my check/debit card for everything.

I still don't think that is correct. Defaulting on a loan shouldn't affect your ability to write checks.

I do not think the denial has anything to do with the payday loans. telecheck and Teletrack are two different things. Telecheck is for merchants writing checks. Teletrack is used by sub prime lenders like payday loan companies and rent to own places.

Sass is right, not being accepted has nothing to do with the pdls-it's two totally seperate issues. My youngests check wasn't accepted one time at a store, but it was because he had gotten a bunch of overdrafts at the bank at one point..Karen

I know that Walmart still uses telecheck, as I had an issue from an account that I had 3 years ago. Never received anything saying that they cleared items after closing, LOL! But I had to clear it up when I tried to write a check at Walmart and it didn't go through. :oops:

Okay, so I've done some research into this and think I have an answer!

There is a product marketed to payday loan companies called Check Data Systems. The payday loan company can report to them that an ach transaction or check bounced. Check Data in turn reports this to SCAN, which is related to telecheck. Walmart uses Telecheck. So some payday loan companies are using this to report "defaulted" loans as bounced checks or returned ach's.

Once interesting thing I did find is that when a payday loan company does it's reporting, it must also submit it's licensing number.



So what I think happened is that the payday loan company reported the ach transaction to this company, who in turn reported it to SCAN and Telecheck. Chexsystems was not involved. I've confirmed that only FDIC insured deposit institutions
can submit a report to Chexsystems. Other businesses can view the reports, so you could have inguiries from other types of businesses, but they cannot submit reports.

The good thing is that once you have proof of PIF, the item will be removed.

Ok, now I have a really dumb question.
All my PDLs are under my old checking account. I'm constantly at Wal-Mart writing checks. Do you think this Check Data->SCAN->telecheck reporting will affect me writing checks at Wallyworld under my new checking account?

It wouldn't be attached to your checking account, they report under your name and DL #, or any other info they have.

But this is the first person I've heard of that has had trouble writing checks because of payday loans, so I don't think there is cause to be worried about it yet. I was fine, and know of a bunch of other people that haven't had any issues either.

This is spooking me now, but if I'm reading it correctly, goudah, when the pdl reports it, they have to give their license number. Okay. That's almost a good thing since 3/4 of these pdl's are not licensed. So maybe this was a licensed pdl and turned it in on queen. Good Lord. It's really really sad that pdl's can turn you over. So would that mean that you would have to pay your pdl to have it removed from their system to write checks? Good Lord.

Yeah, pretty much. But if you had a PIF letter I would think that would work too. But once you pay the pdl is required to report it and the item is removed. But this won't stop you from using your check card. It's only for writing checks.

And yes, they require licensing info before a company can report, so only legally operating companies can report. If you think about it, they could also sue you if they are legally operating, which is why it's always best to work with the legal companies and keep up communication so things like this don't happen in the first place.

About DPPS????????s SCANSM Network
Deposit Payment Protection Services, Inc????????s SCANSM, the Shared Check Authorization Network, is a database of information that its members, retailers and other subscribers, use to help make check acceptance or account opening decisions. This information helps members to reduce their returned check losses, improve customer service and safeguard against identity theft and fraud. SCANSM does not make the decision to decline your check. That decision is made by the individual SCANSM member and may be based on information contained on the SCANSM database.

Why did a retailer decline my check?

Retailers and other subscribers (SCANSM Members) will generally decline to accept a check when the SCANSM database shows an unpaid returned check for a bank account or identification presented at point of sale, or when that bank account number has been reported to the SCANSM database as "closed".
Sometimes, the SCANSM Member will decline a check for other reasons not involving the SCANSM database. This can include negative information on the SCANSM Member's own files or other databases it may use. Sometimes check are declined because the dollar amount of the check, or number of checks written has exceeded limits which the SCANSM Member has established for that location, or because of other check acceptance policies of the SCANSM Member.
For these reason, SCANSM cannot tell you why a SCANSM Member decided not to accept your check or to open an account for you. SCANSM can provide you with the information on the SCANSM database, which the SCANSM Member may consider in its decision.

to order a copy of your scan report go to

consumerdebit.com/consumerinfo/us/en/scan/report/index.htm


CHEXSYSTEMS, EFUNDS, SCAN, NCPS, ALL RELATED

All related

eFunds evolved from familiar components
We may be a relatively new company but many of the components that went into eFunds have a lot of history behind them in serving the financial and retail industries. Here are some of the highlights:

eFunds' initial public offering took place in June 2000 on the Nasdaq national market. Following the IPO, eFunds' separation from Deluxe Corporation (NYSE: DLX) was completed in December 2000.

Deluxe Corporation announced the formation of eFunds in April 1999, bringing together some of the strongest players in risk management and electronic transaction processing services that had operated as distinct businesses within Deluxe. In January 2000, iDLX Technology Partners - another Deluxe unit - was combined with eFunds to add professional services and business process outsourcing capabilities to the new business.

Components brought together to create eFunds include:

SCANSM
Most widely accessed check verification network in the United States

Began in 1985

Serves more than 77,000 retail locations

Authorized 3.7 billion checks in 2000


ChexSystemsSM
Leading account verification and risk management service in the United States

Began in 1971

Serves more than 90,000 financial services company locations


Deluxe Electronic Payment Systems
Largest third-party EFT processor in the United States

Began in 1976

User and provider of award-winning CONNEXTM EFT processing software, which is used to process more than 15 billion transactions a year around the world

Provider of ACH processing services


DebitBureau?
Most comprehensive source of debit data used for decision support

Created in 1998

Consists of more than 3 billion consumer records received from financial, retail, and government sources


eFunds "classic"
Leading electronic check conversion technology

Began in 1992


iDLX Technology Partners
Provider of professional services and business process outsourcing services using unique onsite/offshore model

Began in 1996

An early entrant, iDLX gained first-mover advantage in recognizing abundant IT resources in India whose contributions could be delivered to customers around the world

ncpsonline.com

NCPS is one of the nation's largest privately held providers of new account verification, employment screening and due diligence investigation services for the financial services and government industries.


NCPS is now part of E-funds which is part of chexsystems. At this time it looks as if most banks that use NCPS are now saying that they use chexystems.

Big difference is that telecheck will remove you if paid and chexsystems will not unless the bank tells them to. Both are CRA's

According to the Federal Trade Commission they are considered a consumer reporting agency, as specified in the Fair Credit Reporting Act.

They collect, store and report consumer information relating to check transactions and bank accounts.

Also, Telecheck activities are governed by two federal laws because they collect and sell consumer information, and also collect debts.

The Fair Credit Reporting Act - for consumer information reporting.
The Fair Debt Collection Practices Act - for check collection activities.

I'm not sure where you live, but out here Wal-Mart does not use a check reporting agency to verify their check transactions. Wal-Mart uses an in-house verification. I would assume that would fall true across the board. If you write a check to them and it comes back decline they will print out a receipt witha phone number and how many bad checks you have on file. you can call your local store and ask for the cash office to see what their policies are.

I used to work there....

Thanks for posting that, mca! Very interesting!

at our walmart, when you write a check the amount is automatically debited from your account so if no money is in the account the check will not go through.

Do ipdl's report to telecheck in Indiana?

Yes we do report to checkdatasystems/SCAN I also report people to the major credit bureaus where the hit shows up as a major on their credit report, I also report people to teletrack as a charge off so they cannot get new loans, I then either sue the person in small claims and garnish their wages or bank accounts or I report them to one of two aggressive collection agencies I use. Bottom line is if you take a loan out at my company and do not pay it back, I shut you down. That being said I do not do things like other pdl do. I will not loan to someone making less than $1000 per month. I only write smaller loans to those who are on SSI or make less money. I do not loan to people who already have judgements or charge offs with my competitors. All this helps to weed out people who aren't going to be able to payback the loans. If my competitors want to do all this and get the bad press by loaning to people who cannot afford it then fine but I do not. I try to beat alot of my bad loans at the counter and not at collection time.

YAWN! :roll:

Huh. Someone was bored today.........

Yeah pdl guest doesn't know what they are talking about do they :evil:

I am confused. the guest states that they don't make loans to individuals whose income is below $1000 per month. then states that they will make smaller loans to people on SSI. In the state that i live in there is no way individuals that are on SSI get $1000 per month. So which is it guest?

Sorry forgot to sign in..that was me that just posted.

whirerock...the "guest" is a troll blowing hot air with false statements.

are you saying that cannot happen? check out state court records and you will see countless PDL's like mine suing people. Check your credit report if you failed to pay off your pdl guess what you will find? collection agencies and hits on your report. Call scan and see if your name is in there and guess what you are. Call teletrack and see if your name is in their database. Once again I am right. You will pay your loan eventually. When it comes time to buy that house, car, get a creditcard, cellphone or even get that load of groceries at Wal-mart you will suddenly remember. Ooops I blew those guys off five years ago. Now my fico score is 450 boy was that stupid?

Guest-You are making a blanket statement that doesnt apply in most states and in many cases.

If you are here to scare people, then take it elsewhere....but if you are here to help educate, then provide us with usedful info instead of threats.

Thanks!

guest, as volley stated, yes, we are aware of what "can" happen. However, we are aware of state laws, legal/illegal pdls, etc. We are aware of our rights regarding disputing the credit reports. Please read a bit more on this forum and you will see that we use state law, licensing information, etc. before any advice is given. Every situation is different and handled that way. No one is "blowing off" anything here.

No one here is telling anyone not to pay their loans. I fact we advocate paying back what we borrowed and any LEGAL fees that may apply . We never tell people not to pay .