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Posted: Wed Aug 27, 2008 8:13 pm Subject: Default/Collections/Credit Bureau

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

Posted: Wed Aug 27, 2008 11:33 pm Subject:

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 : -

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