Credit Bureau Information
OneMain Financial may report information about your account to the major credit bureaus. Under the Fair and Accurate Credit Transactions Act of 2003, you have the right to directly dispute the accuracy or integrity of information OneMain Financial reports to the major credit bureaus.
In order to protect your rights regarding any disputed account information, you must do the following:
- Any dispute must be made in writing to OneMain Financial at the following address: PO BOX 3327, Evansville, IN 47732-3327. To avoid delays, you should not provide your dispute notice to a OneMain Financial branch or another address.
- Your dispute notice must sufficiently identify your account relationship with OneMain Financial, such as your name, address, account number, etc.
- You must specify the information OneMain Financial is reporting to the credit bureaus and why you are disputing it.
- You must also provide documentation or other information to support your dispute. For example, you may wish to provide a relevant portion of a credit report that may contain possibly inaccurate information, account statements, a copy of a police report, an affidavit of forgery, etc.
If you fail to meet any of the above requirements it may delay any response from OneMain Financial and any resolution of your dispute. In most cases, OneMain Financial will respond to your dispute notice in writing within 30 days of receiving it.
Frequently asked questions
As of October 1, 2016, Springleaf Financial and OneMain Financial are a combined company known as OneMain. All Springleaf Financial loans open as of that date are now reported to the credit bureaus under the OneMain name. Please note the terms of your loan, including balance, monthly scheduled payment, and due date, are not affected by this change.
This is a result of Springleaf Financial’s purchase of OneMain Financial from Citi and the conversion of your account onto a new servicing system in Spring 2017. The original tradeline, in most cases reported under the name ‘OneMain Financial,’ includes the account history from the origination date through the date of conversion, with a final balance of $0 and final status of ‘Closed/Transferred.’ The new tradeline, reported under the name ‘OneMain,’ includes the account history from the conversion date forward, and reflects the current status of the account. Although the account number may be different, both tradelines show the same opening date and the same original balance. The OneMain tradeline is a continuation of the OneMain Financial tradeline, not a new extension of credit.
OneMain works with multiple online loan shopping services who refer applications to us. When OneMain receives an application from one of these services, we obtain a consumer report, which results in an inquiry being placed on that report. If you see a OneMain inquiry on your consumer report that you do not recognize, please consider whether you applied with an online loan shopping service during the applicable timeframe.
OneMain reports account information to the Credit Reporting Agencies after each month end. For instance, in September, we report the account status as of August 31st. OneMain account updates are typically posted to customers’ credit reports by the Credit Reporting Agencies around the 10th-15th of each month.
With the March 2018 month-end credit reporting data, OneMain has begun reporting delinquency by Industry Standards, which is days past due versus our previous method of monthly delinquency. This change affects customers who are 30 or more days delinquent at month-end, and, who have a due date on the 1st of the month in months with 31 calendar days. Previously if these customers did not make their payment on or before the 31st of the month, OneMain did not report them delinquent at month end. Going forward, OneMain will report these customers delinquent at month-end. The revised reporting method accurately reflects the delinquency status based on how OneMain determines delinquency. These changes are a go forward process, so no delinquency statuses reported before April 2018 will be updated. Anything prior to April 2018 is accurate and will not be adjusted.
Beginning August 2018, OneMain Financial is reporting accounts using a Debt Settlement Agency (DSA). For these accounts, OneMain will notify the Credit Reporting Agencies when account payments are managed by a credit counseling service. These can appear differently on a customer’s credit report, depending on how each credit reporting agency chooses to display the comment code (e.g., “Managed by financial agency”). This will apply to active OneMain customers who enroll with either a non-profit credit counseling service or a for-profit DSA.
