Payday Loans entry on credit file

michael3429

i understand about the default etc, i just wanted to know of i could remove all these PDUK ones as i didnt think they left a mark on credit file, i didnt think they would leave a file for every single defer of the loan i think thats a bit crazy

stclair

BugsyBrowne wrote: »

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

No because the organisations name is not shown.

DevCoder

stclair wrote: »

Lenders do not see the organisation who offered the credit.

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

For 30 days lending?

This is the pertinent point you are missing.

stclair

krisdorey wrote: »

For 30 days lending?

This is the pertinent point you are missing.

As an underwriter it does make any odds as long as it paid and settled.

I might try and get you an example of what "WE" see.

DevCoder

So you are realistically telling me that a finance person sees a ~30 day loan and repayment roughly 12 times in the far and thinks "oh its not a PDL, it must just be a short term credit position" ?

BugsyBrowne

stclair wrote: »

Lenders do not see the organisation who offered the credit.

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

This is the argument that come up last year, as the computers actually check someone's credit report who actually come to the decision that the CPU doesnt see the organisation or is this pure speculation that started on this forum.

And please don't tell me you know this because you work in a bank!!

DevCoder

stclair wrote: »

As an underwriter it does make any odds as long as it paid and settled.

Knowing a fair few underwriters , yes it does. Such a display shows that a person is living on the edge of their financial outings versus incomings, it also shows as a last resort measure because no mainstream lender will lend so a PDL is the only choice.

Sorry OP to have this little spat but your credit position is not great no matter how many satisfied PDL's you have.

You already seem to have stopped the PDL which is good news, your main issue is the default, is there anyway you can get an "agreement" to get this removed if you settle in full?

stclair

BugsyBrowne wrote: »

This is the argument that come up last year, as the computers actually check someone's credit report who actually come to the decision that the CPU doesnt see the organisation or is this pure speculation that started on this forum.

And please don't tell me you know this because you work in a bank!!

No lenders do not see who the account is with I can assure you of that ...

stclair

krisdorey wrote: »

knowing a fair few underwriters , yes it does. Such a display shows that a person is living on the edge of their financial outings versus incomings, it also shows as a last resort measure because no mainstream lender will lend so a pdl is the only choice.

Sorry op to have this little spat but your credit position is not great no matter how many satisfied pdl's you have.

You already seem to have stopped the pdl which is good news, your main issue is the default, is there anyway you can get an "agreement" to get this removed if you settle in full?

no not really it would most likely be in the terms that it would have been reported.

Yeah that's fine but once the account is settled its a positive its only if still open and has on osb it would really make a difference.

BugsyBrowne

stclair wrote: »

No lenders do not see who the account is with I can assure you of that ...

oohes wrote: »

I work in a small finance company, we underwrite everything manually... Pay day loans show up on credit searches we do (we use Experian). It doesn't show the organisation name, but it shows the credit type as 'Pay day loan' (other credit types are 'Mortgage', 'Current Account', 'Gas' etc etc)

Now we're talking I knew it had to come up as some sort of code for the bank to find the PDL posse.