Payday Loans entry on credit file

stclair

BugsyBrowne wrote: »

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

When I see they do not see the lender I mean it does not show up with for example lloyds Barclays etc...

stclair

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)

We use experian and equifax and PDL just shows as a loan, it does not show as PDL. I shall presume it will depend on how the organisation reports the information. For example not all credit cards report payments made etc.

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DevCoder

But it shows it was a PDL right, even if the lender isn't mentioned?

Yes I work in the finance industry, albeit not for a clearing bank (for 20 years, please forgive me) so I'm not totally naive

michael3429

im already in the process of trying to agree with studio to remove the default for full replayment of amount. if not i have to live with it and just wait for it to come off my report.
i'm not looking for any quick fixes anything like that, i was in a mess with money for a while as my report shows, fortunitly it doesnt show all the PD loans i had there would be hundreds. im totally clear of all loans now, feeling great having almost my full income back to myself and the family with no stress. now time to save and build thing back up

DevCoder

michael3429 wrote: »

im already in the process of trying to agree with studio to remove the default for full replayment of amount. if not i have to live with it and just wait for it to come off my report.
i'm not looking for any quick fixes anything like that, i was in a mess with money for a while as my report shows, fortunitly it doesnt show all the PD loans i had there would be hundreds. im totally clear of all loans now, feeling great having almost my full income back to myself and the family with no stress. now time to save and build thing back up

Good news and congrats on your attitude and determination.

Despite the ongoing bickering in this thread (and apologies from me for my posts in that regards) , you are doing the right thing, there are plenty of supportive people to help you out here so please stay!

stclair

krisdorey wrote: »

But it shows it was a PDL right, even if the lender isn't mentioned?

Yes I work in the finance industry, albeit not for a clearing bank (for 20 years, please forgive me) so I'm not totally naive

I could be wrong but when we view it does now show as PDL it just shows as a loan. As I said It may depend on how its reported...

Ill see if I can get an example tomorrow and post it up for ya

DevCoder

stclair wrote: »

I could be wrong but when we view it does now show as PDL it just shows as a loan. As I said It may depend on how its reported...

Ill see if I can get an example tomorrow and post it up for ya

Im not saying you're wrong, its quite possible you don't see this but the 30 days lending is a bit of a give-away

Although each FI has its own lending policy I guess so some FI's would view a load as satisfied as a good thing no matter what the tenor.

BugsyBrowne

Banks ain't stupid and the computer generated credit scoring system certantly is not stupid and PDL's popping up everywhere and easy assesable for customers I am pretty sure the banks have something in place on the CPU to flag up PDL's.

No one on here is a credit rating computer and until a banks computer signs up as a member then I stand firm on what ive said.

Bravehearted_2

Stclair

If you work in a bank and can't deduce that this sort of info is a PDL, then you should consider a career change.

To be clear, it doesn't show the lender, but it ALWAYS shows the kind of credit - it may show Wage Advance, Pay Day Loan etc.... But it certainly won't just show loan or credit card.

No kosher lender will touch anyone with 30 PDLs

stclair

Bravehearted wrote: »

Stclair

If you work in a bank and can't deduce that this sort of info is a PDL, then you should consider a career change.

To be clear, it doesn't show the lender, but it ALWAYS shows the kind of credit - it may show Wage Advance, Pay Day Loan etc.... But it certainly won't just show loan or credit card.

No kosher lender will touch anyone with 30 PDLs

That's not what I'm discussing I'm sorry to say... What Im saying is it does not always slow as a pdl it may just show as a loan. Just as you can not tell if it's a credit or store card. I'm not taking about the amount I'm just really talking about the descriptions in general.