Sep-15-2008
If I consolidate my payday loans will it affect my credit?
I’m in over my head in payday loans and Yes! I do know it’s a bad thing, problem is I need help and am looking to consolidate my bills and roll them into it. I know the bills on my credit will affect my credit, but will my payday loans show up? Do you recommend any companies?
You payday loans probably are not showing on your credit file. You can get a copy of your credit report and check (AnnualCreditReport.com).
However, if you had to resort to payday loans to begin with, you are probably going to have trouble finding a lender to give you a loan big enough to pay off those loans. The interest will be high but no where near as bad as that 600% range of payday loans.
No, payday loans will not go on your credit. However, failure to repay a short term, high interest loan acn affect your ability to get a loan in the future.
You can read more about the ins and outs of the payday loan industry at
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