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 Posted: Tue Jul 25, 2006 11:45 pm Subject: Payday Loans --- Credit |
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Hey, this may be a stupid question but:
Do payday loans end up on your credit report, positive or negative? I figure the ones that say 'no credit check' don't, but what about the others? I mean, they take your social and other identifying information...
Just wondering if anyone knows if any of them in particular do or don't.
(I'm a very good payer on my PDL that I have out - and that would be very nice to have such a positive thing on my credit report, but nothing's appeared as of yet but sometimes things don't report until its paid in full.)
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michikade
Joined: 23 Jul 2006
Posts: 20
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| Posted: Wed Jul 26, 2006 8:13 am Subject: |
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It's NOT stupid. I have NEVER heard of a PDL reporting on a CR. That's not to say it doesn't happen. I'll look into it and see what I can find. 
_________________
My Independence Day from Pay Day Loans Was July 3rd 2006!!
~Dana
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dcashwell3
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| Posted: Wed Jul 26, 2006 3:42 pm Subject: |
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Payday lenders often report to the Teletrack. All previous loan accounts with their latest status are reported in their system. If you are shopping for new loan, the lender will like to review your report with the Teletrack and see how you have paid your previous accounts with other lenders. It's good that you pay your loan accounts in time. Order a copy from the Teletrack and see your profile.
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anthony
Joined: 22 Jun 2006
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| Posted: Wed Jul 26, 2006 5:12 pm Subject: |
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I don't think they report to the credit bureaus...I didn't get any black marks on my report, I actually have pretty good credit!
One exception, though, is if your payday loan gets sent to a collection agency. The collection agency would report to the credit bureaus.
_________________
"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
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| Posted: Wed Aug 16, 2006 12:00 am Subject: pay day loan |
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last yr i was trying to get a house ln & was denied bec. one of the online pdl & store front pdl that I owed $500 reflected on my credit report. accdng to the loan officer, it's derogatory &will be very hard for me to get a good deal. house lenders will not approve me of house ln bec im into pdl.
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joshnvince
Joined: 05 Aug 2006
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