Credit file query relating to payday / short term loans

scottmoreno

Ok new to this forum so be gentle.

I’ve taken out at least 10 pay day loans in the last 12 months, all have since been paid off, however I had a few rejected and then got a lot of spam texts / phone calls saying they’ve rec’d my loan request and I need to call to discuss, text to opt out – I never did call nor text to opt out as i’ve heard they can then inundate with charges.

My question is how long will these pay day loans last on my credit file and what affect do they have on them ?

Secondly with the loan requests that were rejected and have since been inundated with texts saying they’ve rec’d a request, will all these show up on my credit file even though i’ve never requested them ?

Thanks

Candyapple

The pay day loans will show on your credit file for 6 years.

Loan requests/searches will remain on your credit file for 1-2 years (depends which of the 3 agencies).

If you are having problems managing your money, head over to the DFW board and ask for advice on cutting down your budget to manage your money better so you don't have to rely on pay day loans.