What is teletrack?Rate This Article:
Teletrack is a specialty consumer reporting system developed and marketed by CoreLogic, a California based company. They collect and provide consumer credit data to various payday loan companies, installment loan lenders, rent purchase companies and other related consumer finance businesses.
CoreLogic Teletrack also provides services to debt buyers, collection agencies, banks and credit unions in the form of identity verification, skip tracing and risk assessment.
What do consumers have to say about Teletrack?
Many consumers are unaware that Teletrack collects consumer credit information and publishes credit reports. Reputable lending institutions are not known to use or report to Teletrack. In most cases, payday lenders, both legal and illegal as well as smaller credit unions and lenders resort to using Teletrack reports for assessing risk.
- Lacks credibility – Teletrack is not regarded as highly as the much larger credit reporting agencies like Equifax and Transunion. Auto financers, mortgage lenders and even banks do not use or depend on Teletrack reports to make lending decisions.
- Used by illegal lenders – Although Teletrack was once considered an important tool, reputed payday lenders like Ace Cash Express and Advance America do not use or report to them anymore. Most consumers say that illegal payday lenders usually report to and use Teletrack.
- Reports only on subprime credit – Unlike Experian, Transunion and Equifax, Teletrack is used almost exclusively by subprime lenders like furniture stores offering finance options, cable and telecom companies.
If you wish to contact CoreLogic to obtain a copy of your Teletrack report or file a dispute with them, you can use the following contact information:
CoreLogic Corporate Headquarters
40 Pacifica, Suite 900
Irvine, CA 92618
Toll-Free: (800) 426-1466/(866) 873-3651
Local: (714) 250-6400