What does INNOVATE LOAN SERVIC mean on my credit report?
Learn about INNOVATE LOAN SERVIC, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is INNOVATE LOAN SERVIC?
INNOVATE LOAN SERVIC is shorthand for Innovate Loan Servicing , with the company name being Innovate Loan Servicing Inc
Innovative Loanservice Corporation focuses on managing Auto Loan Receivables across USA from its Corporate Headquarters in North Texas, we specialize in delivering exceptional client care throughout the life of the loan. Every new borrower gets a personally addressed welcoming letter and phone call.
INNOVATE LOAN SERVIC is a Loan 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 Innovate Loan Servicing .
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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
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⚫ The average account balance is $3100.
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⚫ The average high credit balance is $13000.
How do I contact them?
Here is the current contact details for Innovate Loan Servicing :
Address:
- 4704 Mercantile Drive, Fort Worth, TX 76137
Website:
Email:
Phone:
Payments
Innovate Loan Servicing Corporation offers multiple convenient payment plans, including online, Agent Chat, and payments using an account number. Payments can be refunded by contacting the Customer Care Line at 888-904-4777. Payments can be made over the phone by calling the Customer Care Line at 888-904-4777. Customers can make payments online through the payment methods section of Innovate Loan Servicing Corporation’s website. There are penalties for late or missed payments.
| 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
Innovate Loan Servicing Corporation does not offer loan forgiveness or consolidation. To qualify for loan forgiveness, you typically need to make a certain number of loan payments over an extended period of time.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online with Innovate Loan Servicing Corporation. You also have multiple convenient payment options available. A cosigner can help you qualify for a loan if you do not meet the lender’s requirements on your own. A cosigner is a person, such as a friend or family member, who agrees to take on the legal responsibility to repay the loan if you fail to do so.
| 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.
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 INNOVATE LOAN SERVIC 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.
