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 Posted: Tue Jan 29, 2008 11:34 am Subject: Payday loans not on credit report
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Why do my payday loans not appear on my credit report? They have been delinquent for some time, and I'm trying to now sort them out.
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mppsu2003
Joined: 29 Jan 2008
Posts: 77
Debtcc Points: 1319
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Posted: Tue Jan 29, 2008 11:36 am Subject:
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Most payday loan companies report to their own reporting agency. There are several of them, and they all report on sub prime loans like payday loans. They rarely report to the 3 majors.
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goudah2424
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Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111635
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Posted: Tue Jan 29, 2008 11:44 am Subject:
Latest Blog Post : http://frogpatch.yesdebtfree.org |
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If a third party should get your delinquent loans it is more likely they will show up on your credit report at that time!
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frogpatch
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Joined: 09 Apr 2007
Posts: 3713
Debtcc Points: 30905
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Posted: Tue Jan 29, 2008 11:48 am Subject:
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So how are they affecting my credit? One of my goals besides cleaning up my debt is to clean up my credit report (ie trying to get a pay for delete or such), and it's hard to do with them not showing up on there...
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mppsu2003
Joined: 29 Jan 2008
Posts: 77
Debtcc Points: 1319
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Posted: Tue Jan 29, 2008 11:54 am Subject:
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They aren't affecting your credit - Not your real credit score.
But if you try to take out more payday loans or other sub prime loans you will be denied because of the items on those reports.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111635
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Posted: Tue Jan 29, 2008 11:55 am Subject:
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If they arent showing up, then they arent affecting your credit at this time.
Just keep an eye on it
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volleyballmom
Debt Samaritan
Joined: 27 Aug 2007
Posts: 4178
Debtcc Points: 24895
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Posted: Tue Jan 29, 2008 12:04 pm Subject:
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How do you get a copy or whatever of these reports that sub prime lenders use?
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tiffer0220
Joined: 14 Jan 2008
Posts: 89
Debtcc Points: 1422
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Posted: Tue Jan 29, 2008 6:44 pm Subject:
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You have to request the report from those bureaus. Teletrack is one that is commonly used. When you visit thier website, click on the consumers tab. Same thing for CL Verify which is another subprime credit reporting bureau. Their site has a consumers tab as well where you can request a copy of your report. You can dispute items on your report as well; though I have never heard from anyone who has completed that process.
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Rach
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Joined: 10 May 2006
Posts: 201
Debtcc Points: 2840
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