Do unpaid pdl's (unlicensed) affect your credit report?
Date: Mon, 05/10/2010 - 16:33
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Both my Father and I have already closed our bank accounts. Our bank will refuse the ach and there will be no overdraft charges for us. We have both paid major interest to these companies when they were not licensed and it was illegal for them to do this. So the way I feel is they have already been paid the original loan.
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My Father's credit is not good......but he is 87 and really there is no need for him to worry.
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I on the other hand took Bankruptcy 3 years ago. I have some years to go. But it will eventually fall off as some of my unpaid credit cards already have. So I do not want anything negative put on my report.
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Do I still have to pay them?:confused:
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Thanks
I doubt if these particular unlicensed lenders would place anyth
I doubt if these particular unlicensed lenders would place anything on your credit report but even if they do you would simply dispute it and demand it be removed due to the fact they are unlicensed lenders. No one has ever posted any problems on this subject.
As far as owing these unlicensed lenders, if you have already paid them at least the principal amount you borrowed, then tell them to go piss up a rope, that's what I would do. What are they gonna do sue you? I think not, unless of course they want to subject themselves to being laughed out of court and possibly having the book thrown at them for breaking the laws by not being licensed to lend, not to mention the fact they charged illegal interest and fees.
Quote:Originally Posted by ShazzersI doubt if these particular u
Quote:
Originally Posted by Shazzers I doubt if these particular unlicensed lenders would place anything on your credit report but even if they do you would simply dispute it and demand it be removed due to the fact they are unlicensed lenders. No one has ever posted any problems on this subject. As far as owing these unlicensed lenders, if you have already paid them at least the principal amount you borrowed, then tell them to go piss up a rope, that's what I would do. What are they gonna do sue you? I think not, unless of course they want to subject themselves to being laughed out of court and possibly having the book thrown at them for breaking the laws by not being licensed to lend, not to mention the fact they charged illegal interest and fees. |
Hey
You have been helping me with the longer thread before I registered. You had asked me to clarify the spelling of PayDay1One. That is how it is spelled on the website. Is it licensed?
Also....let's say I send Ameriloan and 500Fast Cash the letter, etc. and put on paper for them the fact that I do not owe them because I already paid it off in Interest. Should I email that, or Certified Mail? Should I change my phone number and email?
Thanks
I would email it, with unlicensed lenders email is just as effec
I would email it, with unlicensed lenders email is just as effective.
Could you send me a link to the payday1one website via pm? I need to take a look at it. I do know they are listed in your state payday loan licensee data base as it's spelled but I need to double check that before making that determination.
I doubt this would get on your real credit report (equifax, expe
I doubt this would get on your real credit report (equifax, experian, transunion). Real credit bureaus get sued all the time under the FCRA and likely don't want potentially illegal subprime lenders on their reports.