What does FOSTER AND MONROE LLC mean on my credit report?
Learn about FOSTER AND MONROE LLC, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is FOSTER AND MONROE LLC?
FOSTER AND MONROE LLC is shorthand for Foster and Monroe LLC, with the company name being Foster and Monroe LLC Inc
FOSTER AND MONROE LLC is a Creditor provider. They could be on your report for a number of reasons, for example:
-
⚫ You missed a repayment.
-
⚫ You opened an account with Foster and Monroe LLC.
-
⚫ You opened a credit card / loan / mortgage with this company.
-
⚫ Someone fraudulently opened a credit line under your name.
How do I contact them?
Here is the current contact details for Foster and Monroe LLC:
Address:
- 3770 Transit Rd, Orchard Park, NY 14127, United States
Website:
Email:
Phone:
Payments
Foster and Monroe offers online payment services for their services, which include Skip Tracing, Asset Search, Public Records, and Employment. There may be penalties for late or missed payments depending on the terms of the contract.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | No |
| 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
both loan consolidation and loan forgiveness are available. To qualify for loan forgiveness, you must make 120 on-time, full monthly payments. After that, the remaining balance on your loan will be forgiven.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online, over the phone, or in person. Some lenders also have mobile apps that you can use to apply for a loan. You may be able to increase your chances of getting approved for a loan by applying with a cosigner.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | No |
| Can I apply for a loan over a phone call? | No |
| Can I apply for a loan in person? | No |
| Can I apply for a loan using a mobile app? | No |
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 FOSTER AND MONROE LLC 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.
