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benjaldinho

I stopped paying a payday loan that i had taken out with PaydayExpress about a year ago. I set up a plan to pay back but only made it halfway through.

The original debt was for £600 and i am certain i had paid off at least half of it (i have the bank records to show). However on my credit report it is showing the full debt - but it the balance is showing up as satisfactory (green).

Any ideas on why this may be?

Tixy

Is anyone chasing you for the debt currently?
Is the entry on your credit file in the name of paydayexpress?

It could be that the account has been sold to a debt collector who doesn't report to that credit reference agency.

Or it could be an error by payday express.

benjaldinho

No-one has contacted me in reference to it.
Yes the entry is in the name of paydayexpress.

Okay I have an account with Experian? I didn't realise that some things wouldn't show on that report? is that something that is going to affect me in future?

if it is an error by paydayexpress should i mention it to them?

Tixy

Well most debt collectors report to at least one of the 3 credit reference agencies (others are equifax and callcredit/noddle). So it could be appearing on one of those possibly.

But there are some who don't report at all, and if they did not then it couldn't be seen by a potential lender so should not affect you in terms of your ability to get credit.

If you didn't pay off the debt then there is a chance that either paydayexpress or a debt collector might take court action against you. If they did, they would send you notification first (assuming they have your address) and then send court papers to you. If they did take court action and you couldn't repay the debt within a month of the judgement then the CCJ would then be on your credit file for 6years.

I would ignore it unless you are chased for the debt.