What does LPI LOANS mean on my credit report?
Learn about LPI LOANS, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is LPI LOANS?
LPI LOANS is shorthand for Lloyd's Plan Inc
, with the company name being Lloyd's Plan Inc Inc
LPI 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 Lloyd’s Plan Inc .
-
⚫ 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 $1700.
-
⚫ The typical loan duration is 12 months.
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⚫ The average monthly repayment is $100.
The account is classified under the following METRO2 categories:
- ⚫ Secured
How do I contact them?
Here is the current contact details for Lloyd’s Plan Inc :
Address:
- 3717 Brady Street Davenport, IA 52806
Website:
Email:
Phone:
Payments
Lloyd’s Plan, Inc. offers several payment options including personal loans, wire transfers, and prepaid debit cards. There are no penalties for late or missed payments. Automatic payments can be set up.
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
Question | Answer |
---|---|
Do they offer loan forgiveness? | No |
Do they offer loan consolidation? | No |
How to Apply
Lloyd’s Plan Inc. offers loans that can be applied for online, in person, or through a mobile app. The loans start with a minimum of $500 and can be used for personal needs such as consolidating bills, financing an auto purchase, or taking a dream vacation. Repayment is made in equal installments over a determined number of months. The maximum rate of 36% (per Iowa code) and maximum term of 48 months.
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.
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 LPI 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.