This is an important question, because frequent loan applications appearing on your credit file tend to hurt your credit rating. And yes, Payday Online will check your credit file and it will show up as a acredit enquirya (it will not show whether or not the loan was granted). However, that’s only on the first loan you apply for with us. Obviously, we don’t have a history of working with you when you first apply, so we check your credit file. On subsequent loans we shouldn’t have to check your credit history because you are a returning customer and have some history with us. So, the answer is aNo, Payday Online will not normally place repeat credit enquiries on your credit file.a
Now, what happens in the event that you default on your loan? Payday Online works to ensure that all of our loans are practical and well within each client’s ability to pay, and we make payments due at times when the clients should have the funds to pay. However, this is not a perfect world and occasionally clients do default on their loans. If the loan payment becomes 60 days overdue we will offer to form a repayment schedule with the client. If the client refuses, we will report that event to the client’s credit file.
We don’t want to hurt anyone’s credit rating, so we do not report anything until we have made every effort to reach an equitable agreement with the client. We want to be different than other lenders, and sincerely try to help our clients as much as possible.
So have no fear when you apply for a payday loan with http://www.paydayonline.com.au. We are here to help you, not harm your credit rating or place negative marks in your credit file. Quick, easy, different a” that’s the Payday Online way!