Often times individuals who apply for payday loans are keen to know if the lender uses an agency (bureau) called Teletrack. The Teletrack agency checks the background of the borrower to determine their whether they are eligible for a cash advance. Generally the lending history of the borrower is checked along with verification of identity, a general risk assessment and fraud detection. This allows payday lenders to offer loans to people with bad credit and less than perfect histories without doing such checks themselves.
Not all of the payday lenders Lightspeed Payday Loans works with are partners with Teletrack. Because of this, it is possible to get no teletrack payday loans through our site. If you have bad credit and are applying for a loan, but have been unable to secure one through other lenders, you still have a chance to get one here. Your best bet is to apply and find out.
Teletrack allows lenders to monitor the frequency with which a borrower applies for payday loans and their history of repaying those loans. Because of this, Teletrack provides a benefit to those payday companies which desire to minimize their risk. However, not all payday lenders are so concerned and will assume the added risk of lending to sub-prime borrowers.
