Have you heard earlier about the guarantee of No Teletrack Payday Loans? Do you have an idea what is signified by the term no Teletrack.

Meaning of Teletrack

The Teletrack is actually a credit reporting agency. If the term of ‘no credit check’ is used by the loan awarding firms; it means that there is no credit evaluation apart from Teletrack.

Credit Report is Not Important for Payday Loans

Though credit report plays an important role, but for the money advancing firms and payday loans, these regular credit reports are not that important. Hence, for them to award loans; it really does not matter what reputation you have with the credit bureaus, like TransUnion, Experian and Equifax.

For them, the most important is report by Teletrack, as Teletrack also observe your credit related activities. Sometimes, it presents distorted facts about you.

Teletrack is more Watchful on you Activities

In this regard, if you acquire a television from some rent-to-own location, or may purchase some furniture from a shop that gives guarantee for no payments till 2010, you may purchase a second hand car at a “buy here pay there”, you may also acquire a credit card available for individuals with adverse credit; all of your activities are recorded by Teletrack.

Your consent is not mandatory for that purpose, as the creditor clandestinely report the details about your credit related activities to Teletrack, like the amount of loan you had taken, when did you return it, is there any delay in your payment, etc.

This is not Illegal

You may think that it is unlawful to report such activities. For your information, this has been allowed by the Fair Credit Reporting Act of the Central Govt.

Suppose a friend of yours would be in a sheer need of purchasing a fridge, as she is right now stuffing her frozen food in yours as well some other people’s fridge, because her refrigerator is not working any more. She may go to a place where second hand appliances are being sold. Owing to her financial position, they refused to sell her, as they don’t find her trustworthy

Not a Sensible Approach

On the contrary, this is not a sensible approach. She may have severe financial problems, but she regularly pay her utility bills every month. If she does not go to purchase things from the shops that get information about her credit history from the three credit reporting agencies, then she will have no problem in shopping at other places. Actually, these are the distorted facts reported by Teletrack about her that cause the confusion.

Apply for no Teletrack Loan

She should try to acquire a “no Teletrack” loan that will help her in purchasing the refrigerator. This will resolve her problem.