What does LENDINGUSA mean on my credit report?

Learn about LENDINGUSA, 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 LENDINGUSA?

LENDINGUSA is shorthand for LendingUSA, with the company name being LendingUSA Inc

LENDINGUSA 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 LendingUSA.

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

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

About the account

  • ⚫ The average account balance is $1900.

  • ⚫ The average high credit balance is $8600.

  • ⚫ The typical loan duration is 36 months.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for LendingUSA:

Address:

  • 15303 Ventura Blvd, Suite 850 Sherman Oaks, CA 91403

Website:

Email:

Phone:

Payments

To make a payment, borrowers can call (800) 994-6177, make a payment online through LendingUSA, or use the LendingUSA app. There is an origination fee of up to 8% of the loan amount and penalties for late or missed payments including accrued interest.

Question Answer
Do they offer a monthly payment plan? No
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

LendingUSA does not offer loan forgiveness or consolidation. To qualify for loan forgiveness, consult the terms and conditions of your loan agreement. Some loans may have a promotional period during which you can pay off the loan without accruing interest.

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

How to Apply

You can apply for a loan online, through a mobile app, or with a cosigner. Loans are available with amounts ranging from $1,000 to $47,500 and may include an origination fee of up to 8% in the principal loan amount. Your loan may also have a No Interest on Principal Option Promotion included.

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? 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.

LENDINGUSA 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 LENDINGUSA 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.