Does Eagle Loan Show Up on Your Credit Report? Reviews, Legitimacy & Impact

If you're considering an Eagle Loan or already have one, you're probably wondering: Does Eagle Loan show up on credit report? The short answer is yes, Eagle Loan does report to credit bureaus, and this can significantly impact your credit score.

As a credit repair company owner who has helped over 65,000+ clients improve their credit scores, I've seen firsthand how Eagle Loan reporting affects people's credit profiles.

In this guide, let’s break down everything you need to know about Eagle Loan credit reporting.

What Is Eagle Loan?

Eagle Loan is a consumer finance company that provides personal loans, typically ranging from $100 to $5,000. Founded in 1998, the company operates primarily in Ohio, Kentucky, Tennessee, and other southeastern states through physical branch locations.

Key Eagle Loan Features:

• Loan amounts: $100 - $5,000
• Terms: Usually 4 to 36 months
• APR: Can range from 29% to 179% (varies by state)
• Collateral: Often requires personal property as security
• Target customers: People with poor or limited credit history

Unlike traditional banks, Eagle Loan focuses on serving customers who may not qualify for conventional loans due to credit challenges.

Eagle Loan Portsmouth Ohio and Other Locations

Eagle Loan operates over 100 locations across multiple states, with Portsmouth, Ohio being one of their established markets. Each location operates under state-specific lending laws.

Portsmouth Location Details:

• Address: Multiple locations in southern Ohio
• Services: Personal loans, check cashing
• Hours: Typically Monday-Friday business hours

State Regulations Impact:

• Ohio caps small loans at 28% APR + monthly fee
• Kentucky allows higher rates
• Tennessee has different collateral requirements

Is Eagle Loan Company Legit?

Eagle Loan is a legitimate and licensed consumer finance company, but understanding the details can help borrowers make safer decisions.

Licensing & Compliance

• Eagle Loan operates legally in all states where it has branches and holds required lending licenses under each state’s laws.
• The company complies with state-specific usury and lending regulations.
• It may also belong to state lending associations, further supporting its legitimacy.

Transparency & Business Practices

• Loan terms including APR, repayment length, and collateral requirements—are disclosed prior to signing.
• Customers sign paper contracts in person, so there’s physical documentation.
• The absence of an online presence can raise concerns, but this reflects their traditional, branch-based structure rather than deception.

Risks to Be Aware Of

• Extreme APRs: Interest rates can range from 29% to upwards of 179%, depending on the state and borrower credit. That’s significantly higher than rates from banks or credit unions.
• Collateral Requirements: Requiring personal items like electronics or jewelry increases borrower risk.
• Aggressive Collections: Some customers report persistent collection calls and harsh enforcement of collateral repossession.
• Limited Oversight: Branch-level inconsistencies may occur, as much depends on the discretion and policy adherence of individual loan officers.

** Verdict**: Eagle Loan is a real, compliant financial institution, but borrowers should proceed with caution due to high rates, collateral risks, and aggressive recovery practices.

Eagle Loan Reviews

Understanding real customer experiences offers valuable insight into what to expect when working with Eagle Loan.

Summary of Feedback

Based on a review of consumer feedback and client input:

• Positive Reviews (~28%)
  
  • Fast approval: Many borrowers appreciated how quickly they could walk out with funds.
  • Helpful branch staff: Clarity and personal interaction often stood out positively.
  • Flexible in-person payment options: Some found value in paying at the branch or arranging withdrawals.
    
• Negative Reviews (~72%)
  
  • High Interest & Fees
    
    • Borrowers often state that the actual cost significantly exceeds initial expectations.
  • Difficulty with Early Payoff
    
    • Some customers report continued interest charges or friction even after settling loans early.
  • Aggressive Collections
    
    • Frequent, confrontational follow-up calls; repossession of collateral in some cases.
  • Post-Settlement Reporting
    
    • A few borrowers reported lingering negative marks on their credit reports even after resolving their debt.

What Customers Typically Say

“The approval was fast, but by the time I finished payments, I paid more in interest than I borrowed.”
“I kept paying early to get it over with, but they still kept charging me interest.”
“They called me every week even after I settled—felt like they never let it go.”

How Does Eagle Loan Work?

Eagle Loan follows a very traditional, in-person lending model. Unlike online lenders, almost every step happens face-to-face at one of their branch offices.

Here’s how the process typically works:

1. Application
You’ll need to visit a local Eagle Loan branch in person. They don’t currently offer an online application system, which means borrowers must live near one of their locations. This step usually involves filling out a short paper or computer form with basic personal information.

2. Documentation
Applicants are asked to provide:

• A government-issued photo ID (such as a driver’s license)
• Proof of steady income (recent pay stubs, benefit letters, or tax forms)
• References (sometimes family members or friends who can confirm your reliability)

3. Approval
One of the main selling points of Eagle Loan is speed. Loan officers often review your application and documents the same day, with many customers receiving a decision in less than an hour. If approved, you’ll be presented with the loan terms, including the APR, repayment period, and collateral requirements.

4. Collateral
In many cases, Eagle Loan requires borrowers to pledge personal property as security for the loan. This might include electronics, jewelry, or other valuable household items. If the loan goes unpaid, Eagle Loan has the right to repossess the collateral.

5. Loan Disbursement
Once you accept the loan terms, the funds are usually provided right away, either as cash or deposited into your bank account.

6. Repayment
Payments are generally due monthly and can be made directly at the branch or through automatic bank withdrawal. Eagle Loan is known for encouraging in-person payments, which keeps you tied to the branch location. Missing even one payment, however, can trigger late fees and negative credit reporting.

Example in Action
Sarah from Portsmouth, Ohio, needed $1,200 for urgent car repairs. She visited her local Eagle Loan branch with her pay stubs and driver’s license. Because she didn’t qualify for a bank loan, she agreed to leave her laptop as collateral. Within 30 minutes, she was approved and given the funds. Her repayment terms were set at $89 per month for 18 months — but nearly half of each payment went toward interest rather than the loan balance.

Does Eagle Loan Report to Credit Bureaus?

So, you secured an Eagle Loan, what happens if you miss a payment?

The answer is that Eagle Loan treats missed payments very similarly to banks.

• On-Time Payments: These can help strengthen your credit profile over time, sometimes boosting scores by dozens of points within a year.
  
• Missed Payments: Even one late payment can lead to a significant drop in your credit score, plus additional fees and possible collection activity.

In short: Yes, Eagle Loan reports to all three major credit bureaus: Experian, Equifax, and TransUnion. This means both positive and negative payment history will appear on your credit report.

Based on my analysis of client credit reports, Eagle Loan typically reports:

• Payment history (35% of credit score)
• Account balance and credit utilization
• Account status (current, late, charged off)
• Date opened and payment terms

How Eagle Loan Affects Your Credit Score

Positive Impact

When you make on-time payments, Eagle Loan can help build your credit score. I've seen clients increase their scores by 40-60 points over 12 months with consistent payments.

Negative Impact

However, Eagle Loan can severely damage your credit if you miss payments:

Late Payment Timeline:

• 30 days late: 60-80 point credit score drop
• 60 days late: Additional 20-40 point drop
• 90+ days late: Possible charge-off, 100+ point drop

Real Data from My Practice:

• 73% of Eagle Loan clients I've worked with had at least one late payment
• Average credit score drop after charge-off: 127 points
• Recovery time: 12-24 months with active credit repair

The Problem with Eagle Loans: High-Interest Debt Trap

The main issue I see with Eagle Loan clients is the debt cycle. With APRs often exceeding 100%, many borrowers struggle to pay more than interest.

Real Client Example: Marcus borrowed $2,000 from Eagle Loan at 156% APR. His minimum monthly payment was $187, but only $23 went toward principal. After 12 months, he still owed $1,847 despite paying $2,244.

Common Pain Points:

• Borrowers can't break even on principal
• Credit damage from missed payments
• Difficulty qualifying for better loans due to Eagle Loan debt
• Stress from collection calls

Solutions: Better Alternatives and Strategies

Before Taking an Eagle Loan

Better Options to Consider:

1. Credit union personal loans (typically 10-18% APR)
2. Credit card cash advance (often cheaper than 100%+ APR)
3. Borrow from family/friends
4. Sell items instead of using as collateral
5. Side gigs or overtime work

Below is a loan comparison chart sample:

If You Already Have an Eagle Loan

Immediate Steps:

1. Pay more than minimum: Even $20 extra monthly makes a huge difference
2. Prioritize Eagle Loan: Pay this debt first due to high interest
3. Avoid additional borrowing: Don't take out more high-interest loans
4. Document everything: Keep all payment records

Long-term Strategy:

1. Refinance when possible: Once credit improves, refinance with a traditional lender
2. Build emergency fund: Even $500 prevents future high-interest borrowing
3. Work on credit repair: Address other negative items to qualify for better rates

Credit Repair Strategies for Eagle Loan Issues

As a credit repair specialist, here's what I recommend:

If Currently Paying:

• Set up automatic payments to avoid late fees
• Pay bi-weekly instead of monthly (reduces interest)
• Request goodwill removal of late payments after 6 months of on-time payments

If Behind on Payments:

• Contact Eagle Loan immediately to discuss payment plans
• Get any payment agreement in writing
• Consider settlement if severely behind (typically 40-60% of balance)

After Payoff:

• Verify loan is reported as "paid in full"
• Request removal of collateral liens
• Use paid installment loan as positive credit reference

Bottom Line About Eagle Loan Company

Eagle Loan does show up on credit reports and significantly impacts your credit score. While legitimate, their high interest rates often create more financial problems than they solve.

My Professional Recommendation:

• Avoid Eagle Loan if possible
• If you must borrow, have a clear payoff plan
• Consider it only for true emergencies
• Work with a credit repair professional if you're struggling with Eagle Loan debt

Take Action Today

If you're dealing with Eagle Loan credit issues, don't wait. Every month of inaction costs you money and credit score points.

Next Steps:

1. Review your credit report for Eagle Loan entries
2. Calculate total loan cost including all interest and fees
3. Contact us at ASAP Credit Repair for a free credit consultation
4. Create a payoff strategy that minimizes long-term damage

At ASAP Credit Repair, we've helped thousands of clients navigate high-interest loan situations and rebuild their credit. Don't let Eagle Loan derail your financial future. There are solutions available.

Ready to improve your credit? Contact ASAP Credit Repair today for a free consultation. We specialize in removing negative items like late payments, charge-offs, and collections from your credit report.