Payday loan not showing on Experian and Equifax?

Curlyambyth

Hello

I was just wondering if anyone else has found that their payday loan does not show on their Equifax or Experian credit report? The loan was taken out in July.

It does show on Call credit and noodle.

We are in the process of looking for a mortgage so just wondered if anyone else have come across this?

Thanks

suicidebob

They will have; it's nothing unusual.

The bank may question how you can afford to take on a mortgage if you're needing to rely on payday loans to pay the bills.

TadleyBaggie

Count your lucky stars it doesn't show up, mortgages have been denied for having payday loans showing.

Experian_company_representative

Curlyambyth wrote: »

Hello

I was just wondering if anyone else has found that their payday loan does not show on their Equifax or Experian credit report? The loan was taken out in July.

It does show on Call credit and noodle.

We are in the process of looking for a mortgage so just wondered if anyone else have come across this?

Thanks

Hi Curlyambyth

That's a good question.

Your Experian Credit Report includes information provided by lenders, such as the credit agreements you have and how you are repaying them, not all lenders share details about their customers with all three credit reference agency (CRA), this information can differ between the CRAs.

So if you apply for credit such as a mortgage and the lender carries out a check with just one CRA, a footprint will only be registered with the CRA that was consulted.

I hope this helps, best of luck when looking for a mortgage.

Kind Regards
James Jarvis