Payday Loans entry on credit file

michael3429

Evening all,

Looking for a bit of advice on Credit file entry by Paydayloans

I've had several over the last year and fortunitly thanks to the help of the board im all clear and not going back there ever again.

Each loan or defer of loan that i had with PDUK has put a credit account on my file, they all show settled as i have paid them month by month. But i don't know if this is a good factor or bad factor for my credit report as i have 25 settled accounts and on the credit report it states i have 1 positive factor which reads (You have a significant amount of successfully settled non-mail order accounts)

Is it possible to get these removed???

see below. I currently have an amazing score or 573 at moment. But im on the up. I will not borrow i will not borrow i will not borrow

MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 12/09/2010
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 10/10/2010
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 07/11/2010
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 05/12/2010
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 02/01/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 13/02/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 13/03/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 10/04/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 08/05/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 05/06/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 03/07/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 14/08/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 11/09/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 09/10/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 06/11/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 04/12/2011
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 01/01/2012
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 12/02/2012
MEM CONSUMER FINAN... Pay Day Loans Satisfactory Settled 11/03/2012
WONGA COM Pay Day Loans Satisfactory Settled 03/07/2011
WONGA COM Pay Day Loans Satisfactory Settled 25/09/2011
WONGA COM Pay Day Loans Satisfactory Settled 20/11/2011
WONGA COM Pay Day Loans Satisfactory Settled 01/01/2012
STUDIO Mail order Default £975 03/06/2012
LLOYDS TSB BANK PL... Current Account Satisfactory Settled 11/10/2009

[Deleted User]

no kosha lender will touch you with your history of pdl

BugsyBrowne

Looks to lender like someone who has quite not got his finances in order and a high risk & No these can't be removed until 6 years after they started.

Apples2

You can't get them removed, they are showing a history of how you manage your money. The whole purpose is to show other lenders what you had sgned up to in the past.

They are not good to have though as it shows you have not made your income last from one month to the next so had to borrow.

michael3429

It's crazy that it shows to be a positive on my report. then when i look on my wifes credit report she has a negtive cause she has no settled accounts

stclair

woodbine wrote: »

no kosha lender will touch you with your history of pdl

The lender would not see that the accounts was pay day loans..

DevCoder

If the PDL wasn't a big red flag then surely

STUDIO Mail order Default £975 03/06/2012

is?

BugsyBrowne

stclair wrote: »

The lender would not see that the accounts was pay day loans..

What then the computer see the applicant had 20 credit cards with the same lender in 1 year?

DevCoder

stclair wrote: »

The lender would not see that the accounts was pay day loans..

Because 30day loans and settlements are not the sign of a PDL? And yes they would see that it was a PDL.

DevCoder

michael3429 wrote: »

It's crazy that it shows to be a positive on my report. then when i look on my wifes credit report she has a negtive cause she has no settled accounts

Unfortunately CRA do not lend so any score from these can be ignored for the most part, more likely someone not taking out PDL and defaulting will be given a better internal score by the lender.

stclair

krisdorey wrote: »

Because 30day loans and settlements are not the sign of a PDL? And yes they would see that it was a PDL.

Lenders do not see the organisation who offered the credit.

They just see Loan, credit card/store card or current account etc.