No Teletrack Payday Loans. Who Are They For?

When you’re facing financial difficulties and need money fast, you might consider getting a payday loan. Historically, when payday lenders used to calculate a borrower’s creditworthiness, they didn’t go far beyond checking the applicant’s income status and whether they had an active checking account. This is exactly what has made payday loans so popular.

Today, however, most companies have elaborate underwriting algorithms that usually include checking the borrower’s credit history with short-term loans specifically. So if you have defaulted on a payday loan in the recent past, or have an outstanding car title or installment loan, that may prevent you from getting a new payday loan.

As a result, more and more borrowers are starting to look for payday loan lenders offering loans with no credit checks whatsoever. This includes no teletrack payday loans.

So, what is Teletrack?

What is Teletrack?

When you apply for a cash advance, payday loan lenders don’t normally check your credit history with the large nationwide credit bureaus like TransUnion, Equifax, or Experian. However, there are other, smaller credit agencies lenders may check your history with.

Teletrack is a credit reporting system that belongs to Corelogic. Teletrack’s focus is on subprime lending, which includes payday loans, installment loans, car title loans, etc.

Teletrack may provide the following information about the consumer:

Verification of SSN
History on payday loans, installment loans, auto title loans, and other subprime financial instruments that the customer used in the past
Information about open and repaid loans
Consumer dispute information

Payday loan lenders are the main customers of Corelogic Teletrack. If the lender you request a payday loan from works with Teletrack, they will check your credit history with them. Once they grant your loan request, they will report it to Teletrack. When you repay your loan, they will report that to Teletack. If you don’t repay the loan, they will report that too.

As a result, if you have a bad credit history with Teletrack and a lender decides to check your credit history with them, that might prevent you from getting a new payday loan.

What Are No Teletrack Payday Loans?

As the name suggests, no teletrack payday loans are loans from payday loan lenders that do not use Teletrack.

If you decide to apply with a lender that provides no teletrack payday loans, your bad credit history with Teletrack will not decrease your odds of getting a loan from that lender.

However, most of the time, even if the lender doesn’t check your credit history with Teletrack, they might check your credit history with other credit reporting systems anyway. There are a few other large credit reporting agencies aside from Teletrack that specialize in subprime lending:

Experian’s Clarity Services
FactorTrust
DataX
MicroBilt
and others

Some payday lenders also work with multiple credit reporting systems at a time. So if any of the payday loan lenders you’ve applied with in the past reported your payday loan to any of the reporting agencies above, you might still get rejected for a new payday loan.

So, should you be looking for direct lenders who provide no teletrack payday loans?

No Teletrack Payday Loans From Direct Lenders

If you search for no teletrack payday loans from direct lenders only, you will find a lot of companies online who advertise guaranteed payday loans with no teletrack. While it’s true that there are many legit companies that provide no teletrack payday loans, this will not mean guaranteed approval. While some of these companies may not run a credit check on you at all, most will check your credit history with one of the many credit reporting agencies specializing in payday loans specifically.

If your credit history with the particular agency the lender works with is less than perfect, the lender might deny your loan request. You will then have to find another direct lender that provides payday loans with no teletrack and apply again with them.

Depending on your credit score and how many credit reporting agencies hold a history of your negative experience with payday loans, it may take up to 10 attempts before you finally find a direct lender willing to grant your loan request. In some cases, you might not be able to find a lender at all.

As an alternative to applying for payday loans with no teletrack from direct lenders only, you could consider using a matching service.

No Teletrack Payday Loans From Matching Services

A matching service is a company that has access to dozens, sometimes a hundred or more, direct lenders at the same time. Some of the lenders they work with may provide no teletrack payday loans, while others don’t. But that doesn’t matter. When you apply for payday loans with a matching service, they will take your application and send it to one of the lenders they work with. If the lender rejects your application, they will send it to another lender, and then another one, until they finally find you a lender willing to work with you.

At PaydaySeek, we work with 100+ trusted direct lenders, many of whom provide no teletrack payday loans. So if you have a bad credit score with Teletrack or any other bureau, applying with us will increase your chances of getting a loan and take as little time as humanly possible.

Applying with us doesn’t require a hard credit check and will not affect your FICO score.

The entire process is 100% online and usually doesn’t take more than a few minutes. Here’s what it looks like:

You fill in the loan request form on our website.
We go through the list of payday lenders we work with. When we find a lender ready to provide you the loan amount you requested, we redirect you to the lender’s website. At this point, the lender may contact you to verify your application. If not, the loan agreement will become available to you right away. You will see the repayment terms the lender is offering, as well as the APR and any other fees, if applicable.
If you agree to the terms outlined, you e-sign the agreement.
Depending on whether the loan lender you’ve been matched with provides same-day deposits, and whether your application has been approved early in the day, you will get the funds in your bank account either later the same day you applied, or the next business day.

When you apply with us or any other matching service, the requirements are the same as when you apply with a lender directly:

You must be at least 18 years old. In some states, you’re required to be 19 or older. This is currently true for Alabama and Nebraska, but state regulations change constantly, so this may change in the future.
You must be a US citizen and reside in a state where payday loans are allowed.
You should have a steady source of income. It doesn’t have to come from employment. If you receive alimony, disability, retirement, survivors, or supplemental security income (SSI) benefits, that will do as well.
You should have an active checking account.
You must have a valid phone number and email address.

Most of the time payday loans require little paperwork and no faxing or emailing of documents whatsoever. However, sometimes the lender you’ve been matched with may require you to provide proof of ID. In a few rare cases, especially if your main income doesn’t come from employment, the lender may require you to provide either of these two:

Your most recent bank statement
Your most recent paycheck stub

But again, this is rare.

Where Do I Get The Best No Teletrack Payday Loans?

If your credit score with Teletrack is sub-par, and you’re 100% sure that this is exactly what is preventing you from getting a loan, then go ahead and apply with one of the many direct lenders who provide payday loans with no teletrack.

However, if you believe that you might have a poor credit score with other credit bureaus as well, consider requesting a loan from PaydaySeek. Since we work with many lenders, your odds of getting a loan using our service are much higher than when applying with lenders directly, one by one.