What does TRANSFORM CREDIT INC mean on my credit report?
Learn about TRANSFORM CREDIT INC, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is TRANSFORM CREDIT INC?
TRANSFORM CREDIT INC is shorthand for Transform Credit, with the company name being Transform Credit Inc
TRANSFORM CREDIT INC 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 Transform Credit.
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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:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for Transform Credit:
Address:
- 1440 W. Taylor Street, #431, Chicago, IL 60607.
Website:
Email:
Phone:
Payments
The summary shoud be one paragraph and shoud not include any website links.How to make a payment depends on the payment method chosen. Common payment methods include direct debit, credit card, and bank transfer. Payments can be made online, by mail, or over the phone. they do not offer a monthly payment plan. How to get a payment refund depends on the payment method, and customers must contact the Transform Credit customer service team for guidance. you can make payments over the phone. Different payment options include credit/debit cards, bank statement, bank accounts, and others. you can make payments online. Transform Credit offers various payment options, including bank transfers and credit/debit cards. Your loan agreement will provide further details on how to make payments. they do not offer a discount for automatic payments. other payment options such as using a check or money order are available. you can make a payment using a mobile app. there are penalties for late or missed payments. These include additional interest and fees being charged. you can make a payment using a prepaid debit card. you can make a payment using a wire transfer.
| 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
they do not offer loan forgiveness or consolidation. To qualify for loan forgiveness, borrowers and cosigners must meet certain criteria, such as being employed, providing bank statement, having a good credit score, being a homeowner, and making payments on time. Payments may be extra or have payment breaks.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online. Transform Credit offers loans in many states and can accept applications with bad credit scores. They require a cosigner and a borrower who meets certain criteria. Payments can be made in a variety of ways and there are options for extra payments, payment breaks, and early payments. You cannot apply for a loan over a phone call or in person, but you can apply using a mobile app.
| 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 TRANSFORM CREDIT INC 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.
