Teletrack obtains the information it reports through certain “Teletrack businesses”.  These businesses include payday lenders, automotive financing companies, credit card companies, subprime lenders, credit unions, banks, rent to own stores, furniture financing companies, cable television companies, and other high risk lenders.

Teletrack also acquires some information on customers through court records that are made public.  If a customer makes late payments or fails to make any payment to one or more of the above mentioned businesses, a Teletrack report will be started for that individual.

It is important to note that Teletrack does not have the ability to deny or approve customers for any purchase or loan.  Teletrack simply provides its customers with the information they need in order to make a reasonable decision.  In addition to basic information and risk assessment, Teletrack also provides its customers with identity authentication, skip tracing, and fraud detection services.

Teletrack provides its services to a select group of people including: payday lenders, mortgage brokers, collection agencies, online lenders, telecom companies, landlords, and debt brokers.  The purpose of the company’s services is to help protect businesses from being taken advantage of by individuals who regularly do not repay their debts.

While Teletrack works to provide information to businesses, consumers do have the ability to contact the company directly regarding their personal records.  Individuals can request to be included or removed from lists supplied to businesses, as well as ask for further information regarding items contained in their reports.

If a customer finds there is a definite error on his or her report, a dispute can be filed with Teletrack.  This can be done by calling the company’s customer support department and requesting a free investigation into the issue.  Since the information contained in these reports is quite important for individuals to receive certain products, services, and lending rates, it is always a good idea to verify personal reports and correct any discrepancies.

Teletrack has recently expanded its service offerings, and in October 2009 launched “RevealCheck”.  This new program allows retailers who subscribe to the service to have instant access a customer’s check cashing history.  The service helps to protect retailers by providing information as to whether or not a customer has a history of issuing check payments under false identities.

While Teletrack is used by the majority of reputable lenders in the industry, some payday loan companies, especially those on the internet, advertise “no credit check” and “no Teletrack” loans.  This only means that the lender will not verify your payment history prior to approving you for a loan.  That being said, it should be mentioned that if you fail to repay the loan the company will most likely report the incident to Teletrack adding it to your personal information file, which future lenders will be able to view.