Telecheck

[Anonymous]

Does anyone know if telecheck systems reports to the cra's? I went to open a new account with a credit union yesterday, and couldn't do so because they said i had an outstanding account with telecheck. I called the # i was given and found out it is from an old checking account i had 3 yrs ago. By the way, if anyone ever calls telecheck, they ask for your current checking account # and all kinds of personal info, I did NOT give this. Anyway,  My wife had ordered from one of those services that delivers meat to your house. I think it is a rip off so i cancelled the order and then put a stop pay on the check. I never received any merchandise from this company and was assured my account was closed. Now telecheck is trying to recover the money from this check.  I would just go ahead and pay this to get it to go away, but I'm now afraid they may report it to the CRA's. From doing a little research it sounds like Telecheck is a CA. What should I do?

THANKS!

[shawnette]

Telechek is not a CA.  It's like TU,EQ or EX for banks.  The banks use them to determine if you've ever defaulted on a bank payment/account.  They don't report to the other bureaus and as far as I know, they are only used by banks.  Oh eah, some stores use them, but only to determine if they are going to accept a personal check from you.  They're just like Cheq Systems.