What does CFC AUTO CRD mean on my credit report?
Learn about CFC AUTO CRD, an automotive trader offering loans for financial assistance. Check the impact to your credit report and financial status.
What is CFC AUTO CRD?
CFC AUTO CRD is shorthand for CFC Auto Credit, with the company name being CFC Auto Credit Inc
CFC AUTO CRD is a Automotive Trader 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 CFC Auto Credit.
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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
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⚫ The average account balance is $8100.
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⚫ The average high credit balance is $8000.
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⚫ The typical loan duration is 38 months.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for CFC Auto Credit:
Address:
- 1771 Springdale Rd, , Cherry Hill NJ 08003
Website:
Email:
Phone:
Payments
How to make a payment, various payment options, and penalties for missed payments.
| Question | Answer |
|---|---|
| Can I make payments online? | 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 Automotive Trader
A Automotive Trader is any company that buys or sells vehicles. They will report on your credit report if you bought a car on credit or took out a loan during the purchase of your car. The repayment date is normally around three years, and the interest rate is typically between 3-13%. If you fail to make payments they may hire a collections agency which will try to either:
- Collect the (alleged) missed payments
- Try to reposess the vehicle
Either option is not ideal for you life as it may cause undue distress, expecially if the debt has not been reported correctly or there has been a mistake in the reporting process. The best way to protect yourself from automotive debt collectors is to challenge then repair any potential errors on their reporting.
How do I remove CFC AUTO CRD 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.