What does MIDWST LN SV mean on my credit report?

Learn about MIDWST LN SV, 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 MIDWST LN SV?

MIDWST LN SV is shorthand for Midwest Loan Services, with the company name being Midwest Loan Services Inc

Our environment today isn’t for amateurs or people frozen in the status quo; they know we’ve got the passion and ingenuity for the job. For more than two decades we continue to raise the standards of value that a servicer can offer lenders and their customers.

MIDWST LN SV 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 Midwest Loan Services.

  • ⚫ 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:

  • ⚫ Real estate

How do I contact them?

Here is the current contact details for Midwest Loan Services:

Address:

  • 400 Quincy Street, 6th floor, Hancock MI, 49930

Website:

Email:

Phone:

Payments

Midwest Loan Services offers a Premier Service Advantage to homeowners and their lenders in all 50 states. They provide friendly service and custom branding, as well as assistance to borrowers who have been financially impacted by COVID-19. Payments can be made via email or fax. Midwest Loan Services offers mobile app payment options for borrowers. They have a variety of solutions to help banks, credit unions, mortgage companies, and private investors.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
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? No
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

Midwest Loan Services does not offer loan forgiveness nor consolidation. However, They do provide resources and services to assist lenders, borrowers, and private investors with their mortgage-related needs, including guidance and resources to those financially impacted by COVID-19.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

Midwest Loan Services offers online loan applications, along with friendly and responsive service, custom branding, and lead generation. They cannot apply for a loan over a phone call, but their services are for banks, credit unions, mortgage companies, and private investors. They also provide custom branding and lead value, and are an endorsed solution provider, corporate member, gold member/sponsor, and tier one sponsor. Borrowers can 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? No
Can I apply for a loan using a mobile app? No
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.

MIDWST LN SV 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 MIDWST LN SV 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.