What does ALIGNCUMULUS mean on my credit report?
Learn about ALIGNCUMULUS, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is ALIGNCUMULUS?
ALIGNCUMULUS is shorthand for Align Income Share Funding, with the company name being Align Income Share Funding
As of 2011, Align was the only company in the USA offering income share agreements for general use. We’re passionate believers that consumers deserve a fast, more flexible and easier-to-use funding option that is invested in your success rather than a traditional personal loan.
ALIGNCUMULUS is a Creditor provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Align Income Share Funding.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average high credit balance is $5900.
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⚫ The typical loan duration is 48 months.
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for Align Income Share Funding:
Address:
- 30 N. LaSalle St.
Chicago, IL 60602
Website:
Email:
Phone:
Payments
Align Income Share Funding offers an Income Share Agreement (ISA) to help borrowers pay back their funds. The ISA is a financial tool that allows payments to fluctuate with changes in income and allows you to use funds for any purpose. The repayment requirements vary depending on your income and term of contract, and you can change your payment method if needed. You can make payments over the phone, but the specific details of payment such as interest rate and payment method depend on the terms of the Income Share Agreement and the individual’s financial situation. Payments can also be made online and using a mobile app. If you miss a payment, you should contact Align as soon as possible. For more information, please visit Align’s website and read their FAQ section.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | Yes |
| Can I make payments online? | Yes |
| Can I make a payment using a mobile app? | Yes |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
Align does not offer loan forgiveness or consolidation. They offer Income Share Agreements (ISAs) which provide funds in exchange for a fixed percentage of pretax income. Terms vary, but payments fluctuate with changes in income, and funds can be used for any expense. To qualify for loan forgiveness, applicants must meet certain requirements to be approved for a preliminary offer. Once approved, they can receive their funds in as little as two weeks. Payments are based on a fixed percentage of pretax income and can fluctuate with changes in income. Payments are not based on interest and there are no penalties for missing payments. Joint applications are allowed and the contract length is determined on a case-by-case basis.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
It is possible to apply for a loan online, over the phone, and using a mobile app. You can also apply for a loan with a cosigner. An Income Share Agreement (ISA) offered by Align is an alternative to a loan and allows payments to fluctuate with changes in your income.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | Yes |
| Can I apply for a loan over a phone call? | Yes |
| Can I apply for a loan in person? | No |
| Can I apply for a loan using a mobile app? | Yes |
| Can I apply for a loan with a cosigner? | Yes |
IdentityIQ Report Example
- This is an example of what this creditor will look like on your IdentityIQ report.
Will this affect my credit score?
Whether this account affects your credit score depends on a variety of factors, such as:
- Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
- Derogatory Markings: If this account has any derogatory markings such as:
Lates, Charge Offs, Collections and others.
However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:
- Account Age: If your account is quite old, then the age of it will positively impact your credit score
- Repayment History: If the account has no
Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.
Can it be removed from my credit report?
Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.
However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.
How do I remove ALIGNCUMULUS from my credit report?
You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.