Illegal PDLs - Will they hurt my credit score?

Date: Wed, 04/24/2013 - 12:45

Submitted by jomap
on Wed, 04/24/2013 - 12:45

Posts: 36 Credits: [Donate]

Total Replies: 3

So I was reading through the forums and came across the sticky that gives information on how to deal with legitimate collection agencies that have in one way or another obtained your "debt" from illegal payday lenders. The information is great and very helpful; but I couldn't help but wonder...Even after the cease and desist letter is sent, and it is explained that the debt that the agency has obtained was from an illegal lender, will my credit score still suffer?

It might if

It might if you can a loan with western Sky/Cash Call. They reportedly have reported to the credit bureaus, even though the loans are not legal. I know there's a couple folks on here that have been fighting with the credit bureaus on this.
I haven't personally heard of any other illegal lenders hitting a credit report but others here may have.

lrhall41

Submitted by diggerg on Wed, 04/24/2013 - 14:05

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Western Sky / Cash Call is

Western Sky / Cash Call is the only one that I know that reports.. but you will still want to monitor to make sure nothing shows up - so if it does you can dispute it.

lrhall41

Submitted by HelpinAZ on Wed, 04/24/2013 - 14:30

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Yes - Western Sky/Cash Call

Yes - Western Sky/Cash Call will report and damage your score beyond belief. They are using a loophole in their loan agreements to get away with this scam but with fingers crossed there is about to be a landmark case that will open the doors to others to fight these people. Also, Plain Green reports to credit reports - I had a loan with them and it shows up on my credit report positively as paid in full as I had no issues with them.

lrhall41

Submitted by momofthree27 on Wed, 04/24/2013 - 14:53

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