payday loan on credit report

it shouldn't.especially if they are illegal in your state and internet.if one does come up,dispute the listing with the CRA.

Thank for the quick response. Just a little more info...
I live in Ohio - both PDL's were returned as NSF and I took them out prior to the new Ohio law passing

Check into cash VIA internet for $287.50
Payday One VIA internet $575.00

At the suggestion of one bank I closed my account (the one CIC was coming out of) the other one- my credit Union had me complete an affidavit to revoke authorization (PayDay one)

The BOTH told me they would report this on my credit report. I was wondering if they could. If all goes as planned I will have them both paid off by January.

if they do dispute it asap.

Even if its a valid debt? If theres no way for the PDLs to get their money or at least hold something over on you,seems like everyone would be getting one.

well you see,pdl's can't or don't report when your current or pay off a loan.then why should they be allowed to report after you default.my former BK lawyer told me that.there credit doesn't reflect on your score positively so why should it negatively?also if a pdl is internet therefore illegal they legaly can't report either way.

Some companies only report negative items on your credit report,like if you default on something.Just wanted to see if anyone else had similiar experiences.

Check Into Cash was legal for store front and internet until the new law takes effect. The comapny will not do business in any state that there are not protections for both the business and customer. This is different from the postion that Advance America and Check n Go take, as has been demonstrated in that past with state like Pennsylvania. Both companies were forced to shutter operations due to legislation being enacted after they had stores in place.

They, CIC, do not report anyone until the are "bad" due to the time required for reporting on average every two weeks.