What does LOANME INC mean on my credit report?

Learn about LOANME INC, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is LOANME INC?

LOANME INC is shorthand for LoanMe, with the company name being LoanMe Inc

Thank You For Being A Friend is an album by American singer-songwriter Dan Fogelberg released in 1984 on Silvertone Records.

LOANME INC 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 LoanMe.

  • ⚫ 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
  • ⚫ Business Loan
  • ⚫ Unsecured
  • ⚫ Note Loan

How do I contact them?

Here is the current contact details for LoanMe:

Address:

  • 1900 S State College Blvd #300, Anaheim, CA 92806, United States

Website:

Email:

Phone:

Payments

Customers can make payments online, by phone, or by mail. Online payments can be made via credit/debit card, PayPal, or e-check. Phone payments can be made with a credit/debit card, and payments by mail can be made with a check or money order. The company offers a monthly payment plan, and most payment processors offer a way to get a refund if the purchase is unsatisfactory. Mobile apps offer payment services, and prepaid debit cards can be used as a budgeting tool. Wire transfers are a safe and secure way to make payments electronically.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
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

The loan consolidation program from XYZ Bank offers individuals the opportunity to consolidate multiple debts into one monthly payment, helping reduce interest rates, simplify payments and potentially reduce the total amount owed.Loan forgiveness is available for those who qualify. In order to qualify, you must meet certain criteria such as having a qualifying loan, working in a qualifying occupation, and meeting specific income requirements. You may also be required to submit an application and provide evidence that you meet the criteria.

Question Answer
Do they offer loan consolidation? Yes

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. You may be able to apply for a loan with a cosigner.

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

IdentityIQ Report Example

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

LOANME INC 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 LOANME 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.