When you enter a loan agency do you expect to be greeted by friendly faces? Do you demand low interest rates and consumer-friendly lending terms? Do you ensure you are able to enter the agreement without suffering a fiscal loss? Of course you do! You would like to ensure that you see a bright future for yourself upon entering an agreement with the lending party. Just as you do, the loan agency would like to ensure they see a positive result on the horizon. They do not want to enter a lending agreement that is of high risk. Surely they do not want to enter an agreement with a client whom does not intend to repay the loan. Ideally they'd like to enter an agreement with a low-risk client whom has a great credit history, positive references and a respectable reputation.
Unfortunately, without the assistance of third party it is extremely difficult for lenders to ensure they minimize client risks. This is why lenders and loan agencies seek the assistance of a company called Teletrack! Who isn't interested in a cost-effective, efficient solution to a market wide issue?
What is Teletrack?
Teletrack has been providing loan agencies and lenders the client information they need to ensure they are dealing with reliable borrowers since 1989. The Teletrack system has had constant success as more and more agencies have come to adopt the screening process. It allows loan agencies such as payday loan lenders to check borrower information that includes, but is not limited to: bankruptcy records, outstanding debts, collectability statistics, landlord/tenant records and overall client credibility.
Why is Teletrack so successful?
Teletrack is commonly adopted by loan agencies and lenders to ensure they are going to see a return on their loan. It is most commonly used for the payday loan industry. It provides the lenders with confidential information on each of their clients. This information provides lenders with the confidence they need to allow you hundreds or thousands of dollars in loans, often within just a few hours. Without the assistance of Teletrack, lenders would be unable to identify high-risk clients which would ultimately result in a financial loss.
How much information does it provide?
Teletrack offers lenders and loan agencies a wide range of fiscal and credit information. Lenders can watch for alerts from tenants, review bankruptcy claims, manage collectability rates, verify identification material, browse court records, compile risk assessments and surf skip tracing records. As you can see, they work hard to provide lenders the needed information to confidently issue loans to respectable borrowers.
How are Teletrack and Payday Loans related?
Teletrack is commonly used by Payday Loan providers, however the two are not directly related. Payday Loan providers offer short-term loans to those who need financial aid in emergency expense situations. It provides Payday Loan providers with the needed information to identify high-risk clients. That being said, it also provides Payday Loan providers with the needed resources to reduce risks and increase the number of accepted borrowers each month.
As a lender, you may be interested to learn that the teletrack system is only a click away! If you are interested in the service, you won't have far to look.
As a respectable borrower, you may be interested to learn that Teletrack has something to offer you as well. You can rest easy knowing that the time and effort you've put into making timely payments and visiting the agency for updates has paid off. As you continue on your journey as a borrower, your reputation will continue to rise. Teletrack doesn't just identify problematic borrowers, but exemplary borrowers as well!
As you can see, Teletrack has something for everyone, borrowers and lenders alike. Take a few minutes to consider the information above and ensure you're not missing out on this wonderful resource! If you are still worrying about high-risk clients, put your mind to rest with Teletrack. Shed the excuses and make a strategic change to your client screening process today.
