What does CASHWAY LOANS mean on my credit report?

Is CASHWAY LOANS making an impact on your credit score?

Updated January 1, 2023
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What is CASHWAY LOANS?

CASHWAY LOANS is shorthand for Cashway Loan, with the company name being Cashway Loan Inc

CASHWAY LOANS is a Loan Provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Cashway Loan.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $200.

  • ⚫ The average high credit balance is $400.

How do I contact them?

Here is the current contact details for Cashway Loan:

Address:

  • 21 King St W 5th Floor, Hamilton, ON L8P 4W7, Canada

Website:

Email:

Phone:

Payments

Payments can be made online through many payment providers and methods, such as PayPal, direct debit, credit and debit cards, or bank transfers. Some payment providers may require additional information and steps in order to complete the payment. There is no monthly payment plan. Payment refunds are not available. You cannot make payments over the phone. There is no discount for automatic payments. The only other payment option is using a check or money order. There are no penalties for late or missed payments. You cannot make a payment using a mobile app, prepaid debit card, or wire transfer.

Question Answer
Do they offer a monthly payment plan? No

Forgiveness and Cancellation

cashwayloan.com does not offer loan forgiveness or consolidation. The website has a low trust score and the owner is hiding their identity. It is recommended to do your own vetting to determine if the website is trustworthy or fake.

Question Answer
Do they offer loan forgiveness? No

How to Apply

It is not recommended to apply for a loan from cashwayloan.com as the website has a low trust score, negative highlights, and the owner is hiding his identity. It is recommended that you do your own vetting to determine if the website is trustworthy or fake.

Question Answer
Can I apply for a loan online? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? No

IdentityIQ Report Example

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

CASHWAY LOANS 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.

What is a Loan Provider?

A loan provider is a bank or financial organization that can provide loans. In order to apply for a loan they will run a hard inquiry on your credit account which will negatively impact your credit report. They may make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.

How do I remove CASHWAY LOANS 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.