What Does No Teletrack Payday Loan Mean and How
to Get It?

Sunlife Financial

April 19, 2021

A loan product might be a reasonable solution when there is an urgent demand for keeping extra cash. But bad credit makes you hesitate to get payday loans to cover your financial problems. Sounds familiar to you? Well, that’s the situation when a no teletrack payday loan is something that you need now and here. Don’t worry! Bad credit history is allowed for these loans.

Teletrack Loan - A Simple Definition

A teletrack loan is a short-term loan provided by lenders who perform a hard credit check to assess your repayment ability. They review your background information and creditworthiness to make an assumed loan decision. Your borrowing activity is evaluated by complex tracking systems that make a fair credit reporting act. At some point, these credit checks may affect the credit history of your loans.

In these background checks participate data providers who give a full credit report and borrowing details about individuals who need payday advances. The details of consumers who took teletrack payday loans are introduced in the teletrack database, keeping their credit scores when deciding the approval. This information can be accessed by all lenders and banks who perform a hard credit check.

What Does Teletrack Mean?

Teletrack is one of the systems that provide credit details through scoring methods. As said before, these systems help payday lenders to assess the creditworthiness of borrowers. In this case, the loan process becomes more challenging.

To reach a final verdict, Teletrack uses two products referred to as CyberScore and Decision Manager. Because of the financial emergency, borrowers are looking for a cash advance from direct lenders who don’t check credit scores and give guaranteed approval. That is why more direct lenders begin to give no teletrack payday loans without checking credit score.

No Teletrack Payday Loans - A Quick Solution to Cover Your Needs

Maybe you’re asking what no teletrack payday loans are. But here is the simple answer: a no teletrack payday loan is a short-term loan provided by direct lenders who perform soft credit checks. Unlike bank loans, no teletrack payday loans are more accessible for consumers with bad credit. It is important to know for borrowers that their credit score won’t suffer from these checks for no teletrack payday loans. The information about their credit doesn’t go through the three credit bureaus Equifax, TransUnion, and Experian.

Due to this fact, no teletrack payday loans are more available for borrowers with poor credit history. Compared to bank loans, direct lender payday loans are the most suitable solution for people in need. There are no teletrack systems involved for these loans. Thus, your bad credit will be safe.

Benefits of No Teletrack Payday Loans

• - Fast and easy loan application form. You just fill in the online request form with the necessary details about yourself and submit it. There is no need to stay in lines to wait for your loan decision and cash from a lender. The loan process is online and 100% safe for consumers who send requests from their homes. There is no need to send many loan applications.
• - High rate of approval. Everybody is looking for no denial payday loans. That’s why lenders make efforts to give guaranteed approval decisions with no teletrack systems involved. If you want approval, make sure you meet all the requirements.
• - Minimal requirements. Before the application process, lenders inform borrowers about the minimal requirements they should meet. Citizens of the US who are at least 18 years old and have valid banking transaction details are welcome to come with requests for loans.

Your No Teletrack Payday Loan Alternatives

If you need more money to cover your emergency, consider other options to do it. Many lenders allow you to get other loan products such as installment loans and repay them with small amounts in several months. The process of getting these loans is the same: you apply online and wait for a guaranteed approval decision. If approved, you read the loan terms and learn the interest rate. Then sign the contract. You’ll get the money on the next working day or even sooner if applied before noon. Make sure to pay back in established terms.

Also, an optimal solution might be tribal loans. They are made by lenders owned by Native American or Indian tribes. These kinds of lending companies operate within their tribe's reservation. It is also a short-term loan provided by a lender on specific terms for people with a poor Fico score.

A Little Conclusion on No Teletrack Payday Loans

If you’re not sure that you can make it till your next payday, send a request and get a guaranteed approval decision on the same day, even with a bad Fico score. Due to a high approval rate, you might get your money as soon as possible with no teletrack systems involved. You’ll receive the funds into your bank account on the next working day or even more shortly. It will help you avoid debts and rollovers.

Answering Important Questions from Borrowers

1. Is it Illegal Not to Pay Back Payday Loans?

It is not a criminal act not to repay a loan. But it's illegal for a direct lender to threaten a borrower with arrest or jail. All you can do is assess your own risk for a payday loan repayment.

2. Do Payday Loans Report to ChexSystems?

Payday loan companies may also report to ChexSystems or Telecheck, which keeps track of checking account problems for banks and other lending institutions.

3. How Do I Know if I Am in ChexSystems?

To find this out, call ChexSystems at 800-428-9623. Also, you can visit the website:

1. Go to the Request Reports section.
2. Fill out the consumer disclosure form.
3. Submit it online or print it out.
4. Mail it to Chex Systems Inc., Attn: Consumer Relations, 7805 Hudson Road, Suite 100, Woodbury, MN, 55125.

You’ll receive a letter with all the needed information about your credit score.

4. Why Would You Be Denied a Payday Loan?

You would be denied because of your poor credit history. Maybe the direct lender checked your credit history and found out about your poor credit score. In this case, you wouldn’t get approval for your payday loans.