How long to update if short term loan
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[Deleted User]
Posts: 0 Newbie
Hi
Sorry if this angers Wonga borrowers as they are often on here saying that Wonga et el reports on credit file and this leads to all problems, well I've had nearly 5 months with Sunny (Think Finance) and checking report today shows payments not recorded there! admittedly I diverted away from the repayment schedule at times - could this be why?
I look through Experian and while there was a search done at the time of the loan application showing as 'personal loan' there hasn't been anything else, I really thought they would report? and apologies as I'd previously said they did when evidence isn't there now beyond a search!
Does this sound right?
Really hope I'm wrong otherwise there is no evidence of me settling my dues, I only settled and closed account very recently but there have been all the last few months paying as it isn't like a traditional payday loan, sure it is classed as rolling credit, I'd recently got a credit card opened and that shows with the payment brackets ready, why is a short term loan on this basis different? interesting
I'd had Lending Stream in the past and they reported it - though I'm clueless now if that was as a result of me defaulting before I then paid up
Sorry if this angers Wonga borrowers as they are often on here saying that Wonga et el reports on credit file and this leads to all problems, well I've had nearly 5 months with Sunny (Think Finance) and checking report today shows payments not recorded there! admittedly I diverted away from the repayment schedule at times - could this be why?
I look through Experian and while there was a search done at the time of the loan application showing as 'personal loan' there hasn't been anything else, I really thought they would report? and apologies as I'd previously said they did when evidence isn't there now beyond a search!
Does this sound right?
Really hope I'm wrong otherwise there is no evidence of me settling my dues, I only settled and closed account very recently but there have been all the last few months paying as it isn't like a traditional payday loan, sure it is classed as rolling credit, I'd recently got a credit card opened and that shows with the payment brackets ready, why is a short term loan on this basis different? interesting
I'd had Lending Stream in the past and they reported it - though I'm clueless now if that was as a result of me defaulting before I then paid up
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Comments
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Not all lenders will report to a CRA.0
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Yes thank you, I am slowly leaning towards this although slightly surprised, can't find anything under 1monthloans who they use to be, do you think it is the longevity or cost of the loan which maybe effecting it I only borrowed £100 to start with, suppose it is for the best in a lot of respects but quite some loophole if you aren't a defaulter : (
That aside Mr Lender was known to report and I see they have now changed their business model to the short terms loans which is amazing! suppose can't grumble much if the PDL market is picking up in other area's awesome to see!!
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PDL's could affect lenders decisions when you're applying for credit, so don't take them out if you're trying to improve your credit.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
If you want to improve your credit score, don't close your account.0
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