For more than five years, 745-CA$H, also known as Golden Title Loans, has been using Teletrack to prevent charge-offs and monitor skips since 2000. Founded in 1997, 745-CA$H has nine stores in the Memphis area.

“We have a lot of repeat business and a lot of reopen business,” said Eryin Vance, Executive Assistant, Golden Title Loans, LLC. “I see every new loan that comes through the door. We love Teletrack because we can see when a consumer went to other stores before coming to us. Multiple open loans in one-day means we won’t approve.”

Vance knows the importance of avoiding charge-offs and performing credit risk management. She is responsible for tracking down skips for 745-CA$H. Vance explains that owner and founder, Doug Golden chooses to use Teletrack as part of the verification process because Teletrack offers consumer information services that are designed to help payday advance stores minimize losses.

“We would have a very difficult time running our business without all the information Teletrack provides.”

“Teletrack is an integral part of our business, which allows our store managers to make good, quick decisions. Eryin, our Executive Assistant, does a great job by reviewing loans made at our stores,” said Doug Golden. “This helps ensure our management staff is making good loan decisions. We would have a very difficult time running our business without all the information Teletrack provides.”

745-CA$H offers title loans and cash advances in as quick as 20 minutes. One of the reasons they are able to provide their services so quickly is consumer validation through Teletrack. Vance says that using Teletrack doesn’t delay consumers. Teletrack's credit bureau data helps store personnel quickly identify which applicants are a good risk and which are most likely to become a charge-off.

At just one of 745-CA$H’s stores, more than 28 invalid social security numbers were reported in 2004. Teletrack compares consumer Social Security numbers against a file containing Social Security numbers reported as deceased, never issued or recently issued.

“We couldn’t make it without Teletrack,” said Vance. “Pull a Teletrack report -- that’s the first thing we do. And it’s really powerful when we get those skip-guard reports.”

By using Teletrack, 745-CA$H is making the loan process fast and easy for their consumers. And more importantly, pulling a Teletrack report is good for the 745-CA$H bottom line. Teletrack shows 745-CA$H when a consumer has made a recent inquiry at other specialty finance or non-traditional businesses. And Teletrack helps them make consistent decisions about which consumers are a bad risk.

“We can see when the consumer went to other payday advance providers and has multiple loans. Without Teletrack it would be a whole lot harder to get money in and out of our stores,” said Vance. “We know if consumers are being honest. Teletrack shows us if they have been a charge-off!”

745-CASH.com asks, “Is your money going down the drain.” According to Ms. Vance, using Teletrack speeds the process for their consumers and prevents 745-CA$H’s money from going down the drain.

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