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Why can’t I find these lenders on my credit report?

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Recently, I applied for Citi Diamond Preferred Card, but my application was rejected straightway.
I was told that my credit score is too low. I checked my credit report and found that there are a couple of unpaid credit card accounts.
I borrowed $1000 from Liberty Group and $500 from Zip 19 in 2015. I didn’t see these lenders on my credit report. Can you tell me why? Should I contact these lenders and pay?

Credit card accounts have been assigned to debt collection agencies. I owe $7500 on one account and $6000 on another account. What should I do? It isn’t possible for me to pay off these accounts.




As far as I know both the payday lenders are illegal. So all you need to do is payback the principal amount. Focus on your credit card debts. Those lenders are not on your credit report since they are illegal.

Credit cards - Contact creditors and negotiate for a settlement.

Sub: #1 posted on Wed, 08/09/2017 - 22:38

SC SC
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(Posts: 3937 | Credits: 398.71)

I agree with SC, pay only the principal amount to the illegal lenders.
For the credit card accounts, before negotiating a settlement with the collection agency, make a realistic repayment proposal. Decide the total amount you can afford to pay to settle the entire debt.

Sub: #2 posted on Thu, 08/10/2017 - 06:41

tiarajoseph11 tiarajoseph11

(Posts: 330 | Credits: 45.57)

Credit card accounts are assigned to collection accounts - It implies that you can't pay the outstanding balance in full. So, it's better to negotiate for settlement.

Sub: #3 posted on Fri, 08/11/2017 - 04:14

Good Nelly Good Nelly
Industry Expert
(Posts: 2670 | Credits: 533.36)

You can opt for complete professional guidance to repay your credit cards. And about payday loans, don't pay anything if you've already paid the principal amount.

Sub: #4 posted on Fri, 08/11/2017 - 05:26

Mabelle Page Mabelle Page

(Posts: 163 | Credits: 16.08)

Mabelle Page- it is good that now you know it :).

Yes, go for settlement if the creditors agree.

Sub: #5 posted on Fri, 08/11/2017 - 06:04

sanderspatricia29 sanderspatricia29

(Posts: 728 | Credits: 75.94)

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