What does WISELOAN mean on my credit report?
Learn about WISELOAN, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is WISELOAN?
WISELOAN is shorthand for Wise Loan, with the company name being Wise Loan Inc
Tommy Tommy is the founder and CEO of essential lending; he holds a bachelor’s degree in psychology from the university of mississippi state and a master’s degree in counseling from regent university. In addition to being a serial entrepreneur, he also enjoys time with his family, is the father of two, and an avid reader.
WISELOAN 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 Wise Loan.
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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:
- ⚫ Unsecured
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for Wise Loan:
Address:
- 3500 Hulen St Suite 201, Fort Worth, TX 76107, United States
Website:
Email:
Phone:
Payments
Wise Loan offers customers the ability to make payments by logging in to their account, calling their Customer Care Line, or using their simple online application. You can also pay using a mobile app. Payments made with a prepaid debit card, wire transfer, or check are also accepted. There is no hidden fees and you can pay off your loan at any time before the due date to save on interest and fees. If your payment is late, additional interest and late fees may be applied.
| 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
they do not offer loan forgiveness or consolidation. Wise Loan offers installment and payday loans that can be applied for online or via customer care line. There are no hidden fees, and loans can be paid off early at any time before the due date. Late payments will incur additional interest and fees as outlined in the loan agreement.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
To apply for a loan with Wise Loan, you can use the online application, email, call the customer care line, or launch live chat. There is no hidden fees and you may pay the loan off early at any time. If a payment is late, additional interest and a late fee may be assessed as allowable by the laws of your state.
| 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 WISELOAN 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.
