What does WHYNOTLEASE mean on my credit report?

Learn about WHYNOTLEASE, 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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WHYNOTLEASE is shorthand for WhyNotLeaseIt, with the company name being WhyNotLeaseIt Inc

Transactions with us are confidential, secure and compliant with all federal consumer lease regulations, you should feel comfortable that leasing with us is going to be a rewarding experience! We offer easy monthly lease terms for the furniture, electronic devices and appliances you need for everyday life. We work nationwide with quality-driven shops to serve you as quickly and efficiently as possible. Our partnering stores can help you find the perfect product for your needs.

WHYNOTLEASE 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 WhyNotLeaseIt.

  • ⚫ 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:

  • ⚫ Lease

How do I contact them?

Here is the current contact details for WhyNotLeaseIt:


  • 7755 Montgomery Road, Suite 500 Cincinnati, OH 45236





Customers can make payments through credit/debit cards, bank transfers, or PayPal. They offer a monthly payment plan. You can get a payment refund by contacting your financial institution or payment provider and filling out a refund request form. Payments can also be made over the phone by providing a valid payment method, and many websites offer the ability to make payments securely with a credit or debit card or through services such as PayPal. Additionally, many stores offer their own online payment system. There are other payment options available, such as using a check or money order. Mobile apps allow users to make payments, either directly from the mobile device or through a linked bank account, debit or credit card. Prepaid debit cards can be used to make payments at many retailers and online stores. Wire transfers are a secure and reliable way to transfer money from one bank account to another.

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

loan forgiveness is not offered by this company. loan consolidation services are offered by many institutions to help simplify loan payments. Loan consolidation combines several loans into one loan and lowers the monthly payments by offering a longer repayment period and a lower interest rate. Borrowers should contact their loan servicer for more information about loan forgiveness.

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

How to Apply

You can apply for a loan online, over the phone, or in person. Many banks offer mobile apps where you can apply for a loan. You may need to provide documents such as identification, proof of income, and proof of assets in order to be considered for a loan. You can apply for a loan with a cosigner. A cosigner is someone who agrees to take responsibility for a loan if the primary borrower cannot pay it back. Cosigners can help you get approved for a loan, but they should also be aware that their credit could be affected if the loan isn’t paid on time.

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

SmartCredit Report Example

  • This is an example of what this creditor will look like on your SmartCredit report.

WHYNOTLEASE 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 WHYNOTLEASE 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.