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 Posted: Wed Aug 27, 2008 8:13 pm Subject: Default/Collections/Credit Bureau |
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I have several payday loans. They are all in default. I have made arrangement with some of the companies and some decline the offers. What happens when loans go to a 3rd party collection agency? Can payday loans be reported to the credit bureau? I also searched the link to see if a company was licensed in IL and none of the companies were listed and one of the companies is in IL. These are all Internet Loans
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oglam1976
Joined: 27 Aug 2008
Posts: 2
Debtcc Points: 33
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| Posted: Wed Aug 27, 2008 11:33 pm Subject: |
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Payday loan defaults don't generally get reported to the main 3 credit bureaus. One of our moderators, Goudah has precisely given the following answer in another thread http://www.debtconsolidationcare.com/connecticut/about24144.html : -
| Quote: | | Generally speaking, they don't report you to the 3 major credit bureaus. They most commonly report you to Teletrack. Have negative entries on Teletrack will only stop you from getting more payday loans, renting furniture, and getting some other high interest subprime loans. |
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phoenix
Moderator
Joined: 14 May 2008
Posts: 1419
Debtcc Points: 7064
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| Posted: Thu Mar 05, 2009 5:46 pm Subject: |
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I did have one online payday loan company report me to a credit bureau. Just one, the others didn't. The company that reported me is called PaydayMax.
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annoymous1
Guest
Debtcc Points: 100
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| Posted: Thu Mar 05, 2009 7:03 pm Subject: |
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i did too
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Guest
Debtcc Points: 100
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| Posted: Fri Mar 06, 2009 3:35 am Subject: |
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I would dispute that. PaydayMax is illegal.
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nohiogal
Hall Of Fame
Joined: 06 Nov 2008
Posts: 2633
Debtcc Points: 10095
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| Posted: Fri Mar 06, 2009 8:06 pm Subject: |
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Definitely dispute PaydayMax. It amazes me what some of these companies will do.
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kfstaff24
Hall Of Fame
Joined: 11 Oct 2008
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Debtcc Points: 6699
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