PDLs and CRAs

rodgerramjet

Does anyone know how exactly PDLs are marked on credit files as?

I have information that they are marked as "advance against wage"

Now I have a problem with this.....

(all holier than thou creeps can go stick their head in a blender at this point)

I believed i was taking out short term loans with the companies in question and I believe i was mis-led at worst or just not infomred at best as to how this would affect my credit file.

Now i paid back all the money i borrowed on time for what its worth.

has anyone had any experience of having these removed from credit files??????:money:

Johnnytwostep

let me just pull up a chair and get ready

:coffee:

ready now

rodgerramjet

I think your going to be disappointed.

But nice to get a useless first response. Cheers johnnybag

happy_bunny_2

James Jones did a post on this from Experian. Have a search for it.

I think he said firms can't tell the difference from any other loan.

Major issue for mortgage if they want to see bank statements.

I don't think you will get them removed as the reporting is likely in Terms and Conditions.

What would be your point to ask for removal?

Thrugelmir

rodgerramjet wrote: »

(all holier than thou creeps can go stick their head in a blender at this point)

You'll get further in life if you cut the attitude.

There's absolutely no grounds for having the information removed from your file if it is factually correct. Removing data would defeat the whole object of having it to access. Chalk it up to experience and move on.

Hazzinho

As mentioned factually correct, PDL are for people struggling with money who need money to make it to the next pay day. Over time one PDL won't have a massive impact.

Experian_company_representative

Payday/short-term loans are shown separately on credit reports to other loans. Here's my Q&A on this. They stay on your credit report for six years from the settlement date, like other credit products, and can only be removed sooner if incorrect.

James

izools

It should be noted however that a lot of PDL companies actually report the account as a loan. Plain and simple loan. Not "short term" loan or "salary advance".

I'm not sure which PDL lenders report as what, but you may find when you check your credit file it doesn't appear as a salary advance.

What does your credit file say the type of account is?

rodgerramjet

thank for feedback,

and james I will check out the Q&A.

My point is that they are advertised as loans, no where in the Ts&Cs does it say that it will be reported as a salary advance. Now im not going to get too hung up on it but do believe there is a case for if not removal then correction as to what agreement i actually entered into.

Ill know more once the report comes through.

rodgerramjet

to be honest if i didnt win the arguement its no big deal, i know that banks dont give a toss what score experian place on my file and use their own systems.

I wont be looking to renew my mortgage for another couple of years now anywayafter the info from the new bank of england chap. so by then things will have been repaired.

certainly wont touch PDLs again. I used to hate the CCj on my file (for dispute with the council, not breaking a credit agreement) but it probably saved me in the long run. who`d have thought.

rodgerramjet

izools wrote: »

It should be noted however that a lot of PDL companies actually report the account as a loan. Plain and simple loan. Not "short term" loan or "salary advance".

I'm not sure which PDL lenders report as what, but you may find when you check your credit file it doesn't appear as a salary advance.

What does your credit file say the type of account is?

I think you might be shocked to see how many advertise as loan lenders yet report the loan as "advance against wage"

hell it might even be experian that do that for them, wouldnt put it past the scumbags.