Credit Repair and Payday Loans

It depends if they are legal lenders or not, some illegal lenders attempt to report negative remarks, while others do not. The good news is, it can be easily disputed and removed with a valid explanation and their legality status.

Legal lenders may also place negative marks on your credit report, it would affect your credit score.

Payday loans can have positive or negative effects on your credit report. Legal payday lenders, who report to credit bureaus regularly, can increase or lower your credit score easily. But, as Shazzers said, watch out for illegal lenders who report negative remarks thus lowering your score.