What does GENESIS FINANCE mean on my credit report?

Updated January 1, 2023

What is GENESIS FINANCE?

GENESIS FINANCE 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 .

• ⚫ You opened a credit card / loan / mortgage with this company.

• ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

• ⚫ Lease
• ⚫ Auto Lease

How do I contact them?

Here is the current contact details for :

Website:

• genesisfinanceusa.com

Payments

Customers can make payments online or in person. Online payments can be made with a credit or debit card or through a bank transfer. If making an in-person payment, cash or check are accepted. Customers can get a payment refund by contacting the customer service department or filing a request online. Refunds are typically issued within 3-7 business days. Payments can be made over the phone using a variety of methods including credit cards, debit cards, Apple Pay, and PayPal. Many businesses offer online payment services, such as PayPal, Stripe, and Square, that allow customers to securely and easily make payments. Other payment options are available, such as using a check or money order. Customers can make payments using a mobile app. Many banks, credit card companies, and merchants offer applications that allow users to securely access their accounts and make payments with a few taps on their mobile device. there can be penalties for late or missed payments. These penalties can vary and usually include additional charges and interest. Depending on the payment plan, some lenders may also report the late payments to credit bureaus, which can damage your credit score. Customers can make a payment using a prepaid debit card. Prepaid debit cards are loaded with the cash you add to them, and can be used to pay for goods and services just like a regular debit card. Customers can make payments by wire transfer. Wire transfers allow for the transfer of funds between two different bank accounts in different countries. They are a secure, reliable, and fast way to send large sums of money.

Question	Answer
Do they offer a monthly payment plan?	Yes
Can I make payments over the phone?	Yes
Can I make payments online?	Yes
Do they offer a discount for automatic payments?	No
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

Bank of America offers loan consolidation services. They have a variety of options available to help customers save money and consolidate their debt into one convenient monthly payment. Customers can choose from a fixed rate loan, variable rate loan, or an unsecured personal loan. Customers can also receive guidance from a financial consultant to help determine the best option for their situation. Loan forgiveness is generally available for borrowers who meet certain criteria, such as working in a public service job, having a disability, or making a certain number of payments while enrolled in an income-driven repayment plan. To qualify, borrowers must generally submit an application to their loan servicer.

Question	Answer
Do they offer loan forgiveness?	No
Do they offer loan consolidation?	Yes

How to Apply

You can apply for a loan online, over the phone, or in person. You can also apply for a loan using a mobile app. You may be able to get a loan with a cosigner.

Question	Answer
Can I apply for a loan online?	Yes
Can I apply for a loan over a phone call?	No
Can I apply for a loan in person?	Yes
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 GENESIS FINANCE 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.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter