Payday Loan Refund on Bank Statement

vixelite

I may be overthinking things but a question that has popped up in my head whilst going through my bank statements and seeing what I think an underwriter may question, is a recent payday loan refund.
The loan companies name is on there but obviously I haven't taken out a loan with them it's just the refund.  This is backed up with my credit file.  Does anyone know if an underwriter may question this?

jamielutz1987

It's hard for anyone to say what may be picked up during underwriting but the best way to minimise the risk of this being a roadblock would be to use a broker to identify a suitable lender.

Some mainstream lenders don't even ask for bank statements, as long as your broker is convinced that there isn't a problem, it should be fine.

vixelite

jamielutz1987 said:

It's hard for anyone to say what may be picked up during underwriting but the best way to minimise the risk of this being a roadblock would be to use a broker to identify a suitable lender.

Some mainstream lenders don't even ask for bank statements, as long as your broker is convinced that there isn't a problem, it should be fine.

We will be trying Kensington as I have adverse history and this is the only lender currently that we sit with.  We will ask the broker before we apply, thanks

ACG

Is their criteria NEVER taken out a pay day loan or no pay day loans in the last x months or years?
If you fit their criteria then it should not matter about the refund. I am not actually sure if Kensington request statements anymore, I know they used to go through them line by line but in the back of my head I seem to recall they (or someone) stopped asking for them... I could be confusing them with Accord thinking about it.

vixelite

ACG said:

Is their criteria NEVER taken out a pay day loan or no pay day loans in the last x months or years?
If you fit their criteria then it should not matter about the refund. I am not actually sure if Kensington request statements anymore, I know they used to go through them line by line but in the back of my head I seem to recall they (or someone) stopped asking for them... I could be confusing them with Accord thinking about it.

Their criteria is none taken out in the last 12 months.  Which when we apply I definitely haven't and my credit file will show this.  I just read somewhere they also look on bank statements for them.  But I also have emails backing up this was a refund so hopefully I'm just overthinking.