What does TIMEPAYMENT CORP mean on my credit report?
Learn about TIMEPAYMENT CORP, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is TIMEPAYMENT CORP?
TIMEPAYMENT CORP is shorthand for TimePayment Corporation, with the company name being TimePayment Corporation Inc
TIMEPAYMENT CORP 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 TimePayment Corporation.
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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 account is classified under the following METRO2 categories:
- ⚫ Collection Agency/Attorney
- ⚫ Lease
How do I contact them?
Here is the current contact details for TimePayment Corporation:
Address:
- 200 Summit Dr Suite 100, Burlington, MA 01803, United States
Website:
Email:
Phone:
Payments
TimePayment is a financial services company that offers monthly payment plans, online and mobile payments, and other payment options such as using a check or money order. They have a wide range of industry solutions and have been in business for over 30 years.
| 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? | No |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
TimePayment offers financing solutions and programs for equipment sellers and buyers, but not loan forgiveness. They also don’t offer loan consolidation but specialize in financial services to cover a variety of industries. There are several types of equipment leases available through TimePayment that offer loan forgiveness as an option, such as Commercial Lease, Lease-to-Own, and Fair Market Value Equipment Lease.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
TimePayment is a financial services company that offers loans for equipment buyers and sellers. They have an online application process, mobile app-based loan applications, and the option to apply for a loan with a cosigner. They have been in business for 30+ years, have 2000+ active vendor accounts, and have served 1 million customers. Their average approval time is 3.2 seconds.
| 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 |
SmartCredit Report Example
- This is an example of what this creditor will look like on your SmartCredit 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 TIMEPAYMENT CORP 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.
