What does HORSEPOWER FINANCIAL S mean on my credit report?

Learn about HORSEPOWER FINANCIAL S, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is HORSEPOWER FINANCIAL S?

HORSEPOWER FINANCIAL S is shorthand for Horsepower Financial Services, with the company name being Horsepower Financial Services Inc

The early years included learning from experience and satisfying our desire to make available the Harley lifestyle for everybody. In a perfect world…

HORSEPOWER FINANCIAL S 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 Horsepower Financial Services.

  • ⚫ 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

How do I contact them?

Here is the current contact details for Horsepower Financial Services:

Address:

  • 1087 Mane Way A, Lebanon, OH 45036, United States

Website:

Email:

Phone:

Payments

Horsepower offers low monthly payments and tailored financial solutions for purchasing or leasing a motorcycle. You can make payments online, using a mobile app, or through a prepaid debit card. There are no penalties for late or missed payments. Your dealer will assist you with the process and provide the details of how much the bike will cost at the end of the lease.

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

Forgiveness and Cancellation

they do not offer loan forgiveness or consolidation. Loan forgiveness does not qualify for a Lifestyle Lease from Horsepower Financial.

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

How to Apply

You can apply for a loan online, in person, or using a mobile app through Horsepower Financial. A cosigner is not required but may be helpful. A Horsepower Select Dealer will assist you in finding the bike that fits your lifestyle and budget.

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.

HORSEPOWER FINANCIAL S 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 HORSEPOWER FINANCIAL S 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.