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Payday loans and affect on credit rating/mortgage application

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Hi all,I hope I have placed this in the right forum. I am seeking advice to a problem almost identical to the below thread:"Payday loans and credit files. Hi all I hope you can help me please with my new quest.I am in the process of rebuilding my credit report after being really really stupid in the past but all is well now, just got 2 defaults and they will be off next year. YEY!Anyway I have been taking out small payday loans from PDUK after reading this on there website,

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Hi all,I hope I have placed this in the right forum. I am seeking advice to a problem almost identical to the below threadPayday loans and credit files. Hi all I hope you can help me please with my new quest.I am in the process of rebuilding my credit report after being really really stupid in the past but all is well now, just got 2 defaults and they will be off next year. YEY!Anyway I have been taking out small payday loans from PDUK after reading this on there website, states that they may help rebuild/improve credit files if they are paid back on time.I have taken about 15 PDUK loans out all for about £50 and then paying them off in full, or maybe deferring a month and paying interest and most of the £50 being sensible. Trouble is when I checked my credit file and spoke with Credit Expert/Experian they have told me that payday loans are so so bad for your credit file even if you pay them off in full and on time. They told me that they are only open a month and you build no history (I was told that lenders like to see well managed accounts over a period of 6 to 12 months). So my question is, is this advert misleading and is there anything I can do about it?I have referred this to the fos and the advertising standards authority yesterday 20/04/12. Can you think who else to send my complaint to?I feel I have paid excessive interest under the belief they were helping only to find out its a load of rubbish! Any advice would be greatly appreciated and lets see these ******s disappear!Unfortunately I am not allowed to insert the link to thisI have read this with great interest but can't seem to find whether or not this individuals actions resulted in PaydayUK removing all of his entries on his credit report. Applying for loans with this company under the mistaken belief that this would 'improve' my credit rating has resulted in being the sole reason why I was refused a mortgage. I had 'passed' all initial mortgage checks with an offer in priniciple; however only at the underwriter stage was I told due to several payday loans I was refused the mortgage (this was repeated with several mortgage providers).I am desperate to try and find a way to have these removed from my report and believe strongly that this company should not be allowed to get away with lying to consumers about the true reality and damage caused when using them.I would be so grateful if anybody could let me know and hopefully offer me some hope and advice - particularly to those who replied in the previous thread (unfortunately I am unable to PM individuals due to restrictions on this site).Many thanks,Niall

Edited by ncp2008

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