Why Would Accessing Credit From Payday Lenders Have A Negative Impact On Your Credit Score?

Updated: 11th June, 2022

Ashley Astors

Verified Collections Expert

Visiting a payday lender ended in a score drop? Learn why (and how to fix it).

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Accessing credit from a payday lender can have a negative impact on your credit score. If you're late on your payment even a day, they have the right to sell your debt to a collector. The collector will report the debt, hurting your score (unless removed).

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