Table of Contents
Check Your Credit Report
Your credit report is the best place to start when you’re looking to find out if you have any outstanding payday loans. You can get your credit report from each of the three major credit bureaus—Equifax, Experian, and Transunion—for free once a year. It’s important to look closely at your credit report since this is where lenders and potential employers will look to assess your creditworthiness.
You’ll want to look for the “Debts in Collection” section, which will list any outstanding payday loans you may have. You can also look for loan accounts that you may not have closed or paid off.
Contact the Payday Lender
If you find any outstanding payday loans on your credit report, it’s important to contact the lender and discuss your options. Depending on the lender, you may be able to negotiate a payment plan or even an extended repayment term.
In some cases, the lender may be willing to accept a lump sum payment that is less than what you owe. This is known as a “settlement” and can help you avoid additional fees and interest.
Seek Outside Help
If you are unable to reach an agreement with the lender, you may want to seek outside help. There are many organizations that can help you with your payday loan debt. These organizations can help you negotiate a payment plan with the lender, or even help you settle the debt for less than what you owe.
Q: How long does unpaid payday loan stay in the system?
A: Unpaid payday loan information can stay on your credit report for up to 7 years.
Q: Do unpaid payday loans go away?
A: Unpaid payday loans will remain on your credit report for up to 7 years, but it is possible to negotiate a repayment plan or even a settlement with the lender.
Q: Do payday loans go away after 7 years?
A: Payday loans will remain on your credit report for up to 7 years, but it is possible to negotiate a repayment plan or even a settlement with the lender.
Q: How many years can they come after you for a payday loan?
A: Payday loan lenders can file a civil lawsuit against you for unpaid debt, which could result in a judgment. Judgments remain on your credit report for up to 7 years.