Illegal Payday loans reporting to CRAs?

Hang in there Jen someone will be along to assist you. I am not that familiar with the collection laws but I don't think that PDL's report to the credit bureaus. I mean after all some of them are operating illegally.

ladybug

I have this same question, can IPDL's report to your credit reports. I didn't think they could but I am not sure. Does anyone know?

Just today I had Payday One threatening to report to credit bureau, even though in the letter they say we may report which leads me to believe they can't. But I don't know. Can they also report to Teletrak, which will interfere in check writing. Does anyone know?

Payday One can report to any agency it wants, because it is a legally operating company. Yes, they report to Telectrack, but it will not affect your check writing. Having negative items on your teletrack report will only stop you from taking out more pdl's or doing any rent to own furniture things.

Thanks Goudah, I will try and setup payment arrangements with Paydayone. I was wondering if you can also help me find out if the other pdl's I have are legal. Discountadvances, 700 - US fastcash 300, Cashcentral 600, PaydayOK 500, PaydaySelect 500 and CashnetUSa 300. I am in the state of Louisiana. These of course are all Ipdl's.

Ummmm..... let me jump in and address the issue of "can an illegal pdl report you to the credit bureaus?" Yes. Should they? No. Are they breaking the law? Yes. Do they anyway? Yes. Check your credit reports.

I can tell you right off that Cash Central and Cash Net USA are always licensed in the states they lend in. Payday OK and Payday Select are actually the same company as Payday One. But Payday One is usually the only one that is licensed. Payday OK and Payday Select are licensed in DE.