You should read your loan application carefully to determine whether a lender will report your loan to credit agencies
You should read your loan application carefully to determine whether a lender will report your loan to credit agencies Do does an online loan show up on your credit report? In most cases, lenders will not report your loan to the major credit agencies, such as Equifax, Trans Union, and Experian. As long as you pay your loan on time, you will probably never have to worry about your loan impacting your credit history. Borrowers should keep in mind that payday loans will be reported to credit agencies in many cases when they are seriously delinquent. Your loan agreement will usually tell you a company’s policy on credit reports. At a minimum, your loan is almost certain to show up on credit checks if it has been turned over to a collection agency. In an attempt to force you to pay your balance, collection agencies will usually report seriously delinquent loans to all of the major credit agencies. […]