Payday Loan Credit Agency Shock

[tomjones2015]

Hi

 

I was stupid enough to take out several payday loans with the same company. All but one have been cleared.

I very recently noticed that the company in question has recorded them against my Credit File within the last week.

The problem is that they are all recorded with outstanding balances even though they are months old. These loans have been paid back. It is even displayed as satisfactory on the status. Each one is recorded as a new account, affecting the credit score that I had displayed. Entries have been recorded for 2012 even though they have never shown up before on my report.

I had checked my credit file in the last month and these entries were not recorded so these are new entries during that check.

What should I do? This has been a total shock from the massive negative impact on my credit score from the concerned credit agency.

The company in question has recorded information from 6 months back and given a last status of this year. My understanding of a Credit File was that they could only record forward, not entries six months back.

Any advice would be appreciated.

[renegadeimp]

Which pdl

[tomjones2015]

Pay Day Express

[tomjones2015]

Any thoughts?

[ims21]

Any thoughts?

 

tom

 

you only posted at 11:35. It is Friday night and a weekend. Things can be a bit quiet around here at certain times so please be patient.

 

Thanks

[IdaInFife]

Sometimes it can take up tp 2 months for the correct date to show.

 

Where the loans that were cleared paid over 2 months ago?

[fletch70]

Are they showing as settled?

[26072004]

every time you take out a loan and pay it back they will register a entry.

 

4 different payday loans equals 4 entries on your file, I imagine if you rolled the loan over and paid every month it would only show as 1 entry and being paid on time every month like a normal loan.

 

This is why the PDL companies claim to help your credit file is a load of bull

[fletch70]

Of course not every pdl uses every or even any cra

[citizenB]

Whether or not you use a PDL correctly and pay it back within the given time, the very fact that you did have a PDL will affect your credit rating for a good period of time.

[tomjones2015]

Some loans where over 9 months ago, they show as a outstanding balance and marked as satifisfactory but not settled.