What does MOBILOANSLLC mean on my credit report?
Learn about MOBILOANSLLC, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is MOBILOANSLLC?
MOBILOANSLLC is shorthand for MobiLoans LLC, with the company name being MobiLoans LLC Inc
For nearly six weeks after his death, Miller’s widow Mary took care of her son Lewis until he died.
MOBILOANSLLC 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 MobiLoans LLC.
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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
The account is classified under the following METRO2 categories:
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for MobiLoans LLC:
Address:
- P.O. Box 42917 Philadelphia, PA 19101
Website:
Email:
Phone:
Payments
Mobiloans is a mobile app that allows customers to apply for a line of credit between $500 and $2,500, draw an amount up to their limit to transfer to their checking account or by check, and pay a simple flat fee for every $20 they draw. Payments can be made automatically, and customers can be eligible for a line of credit increase.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | No |
| Can I make payments online? | No |
| 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? | No |
Forgiveness and Cancellation
they do not offer loan consolidation or forgiveness. Qualifying for loan forgiveness is not possible with Mobiloans. Mobiloans is a line of credit service that offers customers lines of credit between $500 and $2,500, with a history of successful payments customers may be eligible for a line of credit increase (maximum $2,500). Customers pay a cash advance fee for every $20 they draw and a fixed finance charge each billing cycle when they have an unpaid balance.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online, over the phone, or in person. You will be charged a cash advance fee and a fixed finance charge based on your outstanding principal balance. The annual percentage rate (APR) on Mobiloans cash advanced will range between 79.13%-400.00%. You can apply for a loan with a cosigner using Mobiloans’ secure online application.
| 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 MOBILOANSLLC 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.
