Dear Dr. Don,
Correct the wreck caused by TeleCheck
I was reported to TeleCheck, but I don't
know why. The IRS levied my business and personal checking accounts
for $17,000 in error. I went to write a check and was turned
down with a code 4. How do I fix this?
-- Vexed Vivian
According to TeleCheck's Web site, "Code 4 means that
TeleCheck has information on file that prevents warranty of
any check from this check writer or company at this time."
When you're turned down with a TeleCheck Code 4, the merchant
is supposed to provide you with a record number on a courtesy
card that you can reference when calling TeleCheck's Check
Writer department to find out why your check was declined.
You can call TeleCheck at 1-800-366-2425 to
discuss the declined check and see if you can correct the
Under provisions of the Fair Credit Reporting
Act, you have the right to receive a free copy of your consumer
information held in TeleCheck's files within 60 days of the
date your check was refused. Your right to dispute the information
in this consumer report is also protected by the Fair Credit
Reporting Act. The FTC's Facts for Consumers guide, How
to Dispute Credit Report Errors, gives more details, as
does this Bankrate feature, 7
steps to fixing your credit report.
If the problem does stem from the IRS error,
then a letter from the service explaining the error should
be sufficient to clear your TeleCheck consumer report.
-- Posted: July 22, 2004