What does LINCOLN FIN mean on my credit report?

Learn about LINCOLN FIN, 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 LINCOLN FIN?

LINCOLN FIN is shorthand for Lincoln National Corporation, with the company name being Lincoln National Corporation Inc

LINCOLN FIN 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 Lincoln National Corporation.

  • ⚫ 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:

  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for Lincoln National Corporation:

Address:

  • 150 North Radnor-Chester Road Radnor, PA 19087

Website:

Email:

Phone:

Payments

You can make payments online, over the phone, or using a mobile app. There is a discount for automatic payments. You can also make payments using a check or money order. There are no penalties for late or missed payments.

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

There are three main types of federal student loans: Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans. Direct Subsidized Loans are available to undergraduate students with financial need. Your school will determine the amount you can borrow, and the U.S. Department of Education will pay the interest on your loan while you’re in school at least half-time, for the first six months after you leave school (known as a grace period*), and during a deferment (a postponement of loan payments).Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. Your school will determine the amount you can borrow. You’re responsible for paying the interest on a Direct Unsubsidized Loan during all periods.Direct PLUS Loans are available to graduate and professional students, and parents of dependent undergraduate students, through the William D. Ford Federal Direct Loan Program. The U.S. Department of Education is the lender. To get a Direct PLUS Loan, you must complete a Free Application for Federal Student Aid (FAFSA®) form.There are income-driven repayment plans for Direct Loans, and if you make qualifying payments for 20 or 25 years, any remaining balance on your loan will be forgiven. You may also qualify for loan forgiveness if you work in certain public service jobs.

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. You may also be able to apply for a loan using a mobile app. In some cases, you may need 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.

LINCOLN FIN 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 LINCOLN FIN 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.