What does 800 LOANMART mean on my credit report?

Is 800 LOANMART making an impact credit score?

Updated May 1, 2022

What is 800 LOANMART?

800 LOANMART is shorthand for LoanMart Wheels, with the company name being LoanMart Wheels Financial Group, LLC

800 LOANMART is a Auto Title Loan Provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with LoanMart Wheels.

  • ⚫ 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:

  • ⚫ Collection Agency/Attorney
  • ⚫ Auto Loan
  • ⚫ Auto

How do I contact them?

Here is the current contact details for LoanMart Wheels:

Address:

  • Wheels Financial Group, LLC dba LoanMart P.O. Box 8075 Van Nuys, CA 91409

Website:

Email:

Phone:

  • 1-855-422-7412

IdentityIQ Report Example

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

800 LOANMART 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 800 LOANMART 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.