Do Payday Loans Affect One's Credit?

I know we have discussed this before, but I cannot find the thread. I would use Scenario Four due to being retired and not being able to produce a paycheck. Ultimately, I would be denied a loan. For this shop, is one's credit checked? If the loan is refused does it affect one's credit score?

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I did a little web googling and found [www.paydayloaninfo.org], which was a link from CreditKarma. What they indicate is that the lender 'does not run a full credit check'. I think it is more than a fair question to ask the MSC whether there is any credit check at all as well as whether the loan refusal would be noted on your credit.

My understanding is they don't do a credit check. They instead run a clearinghouse search for any previously bounced checks, since you're giving them a check.

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Do Payday Loans Affect One's Credit?

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