No Teletrack Payday Loans - What They Are

By Chris Novaczek

When you apply for a payday loan, one thing you may not realize is that your information may be analyzed by Teletrack. Teletrack is a company which provides data verification and fraud prevention services to payday lenders. By outsourcing this verification to a specialized company, the lender can further mitigate their risk and help assure they receive payment on their loans. Teletrack may analyze employment data, tenant rental data, court records and several other pieces of information about an applicant. The specifics of this analysis are not entirely clear however.

Some payday loan applicants who desire no Teletrack payday loans may be concerned for their privacy while others may be a genuine risk to a lender. Whatever the case, it is possible to obtain a no Teletrack payday loan. While many lenders use Teletrack, there are still quite a few who do not send applicant data to the agency for analysis. Many sub-prime applicants are able to pay off their loans on time and there are lenders who do not want to miss out on a chance to provide loans to these individuals.

Teletrack is not the only way of verifying an applicant's identity. Other ways a lender might determine eligibility is to check their references and to verify their bank account and employment information. Of course when a lender does this verification, they will not tell your employer or bank that you are applying for a payday loan. Going through this process gives the lender reassurance that you will be able to pay off your payday loan without using Teletrack. It may cause you to consider your privacy, but if you need a no Teletrack payday loan, this verification process is really a requirement.

Online no Teletrack payday loans can generally be acquired in the same way as a regular online payday loan. Payday lender websites will usually have a one or two page form which will require you to fill out all the necessary information. Sometimes the forms will have extra fields which are not required. It's recommended to fill out the non-required fields as well since this will increase your chances of securing a loan.

Getting a loan with bad credit can be a real challenge considering the financial market these days, but it is certainly not impossible. No Teletrack payday loans are still available to individuals experiencing challenging situations. If you are unable to get a loan through some of the larger payday loan lenders, it would be worth your time to find one who offers the no Teletrack option. One of the benefits of getting your payday loan online is the wide array of lenders which are available. If you were limited to brick-and-mortar stores, finding a no Teletrack payday loan would be greatly more challenging.

About the Author:

Chris Novaczek has several years of experience in the personal finance industry and working with online payday loans. If you would like to know more about no teletrack payday loans, stay tuned for more articles in this series.