Credit Bureau

Date: Wed, 08/27/2008 - 20:13

Submitted by anonymous
on Wed, 08/27/2008 - 20:13

Posts: 202330 Credits: [Donate]

Total Replies: 7

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

Payday loan defaults don't generally get reported to the main 3

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.

lrhall41

Submitted by phoenix on Wed, 08/27/2008 - 23:33

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I did have one online payday loan company report me to a credit

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.

lrhall41

Submitted by on Thu, 03/05/2009 - 16:46

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