What does MIDWEST FINANCE mean on my credit report?
Learn about MIDWEST FINANCE, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is MIDWEST FINANCE?
MIDWEST FINANCE is shorthand for Midwest Finance Association, with the company name being Midwest Finance Association Inc
The MBA was founded in 1951 by Robert Elliott Dodd; it currently receives support from the Ford Foundation and other sources. It aims to foster interaction between academics and practitioners in various fields.
MIDWEST FINANCE is a Creditor provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Midwest Finance Association.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
- ⚫ The average high credit balance is $600.
How do I contact them?
Here is the current contact details for Midwest Finance Association:
Address:
- 2211 Campus Dr Ste Gh-4373. Evanston, IL 60208
Website:
Email:
Phone:
Payments
The Midwest Finance Association offers various payment options for members, including credit and debit cards, bank transfer, PayPal, cash, check, and money order. There is no monthly payment plan offered, and no penalties for late or missed payments. Wire transfer is also an option for membership fees.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| 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? | Yes |
Forgiveness and Cancellation
they do not offer loan forgiveness or consolidation. loan forgiveness may be available to those who meet criteria such as working in a public service job for 10 years, making 120 on-time payments, and proving partial financial hardship.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
The Midwest Finance Association offers a forum for the interaction of finance academics and practitioners to share scholarly activity and current practice. This includes loan applications which can be done online, through a mobile app, or 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? | 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.
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 MIDWEST 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.