What does SAFCO FKA VALU AUTO FI mean on my credit report?
Learn about SAFCO FKA VALU AUTO FI, an automotive trader offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SAFCO FKA VALU AUTO FI?
SAFCO FKA VALU AUTO FI is shorthand for SAFCO, with the company name being SAFCO Inc
For Safta, a customer’s credit rating is only part of a complex AI driven process that determines his or her ability to repay a loan. Therefore, we are able to offer finance to more buyers after being approved. Repeat clients are not our goals.
SAFCO FKA VALU AUTO FI 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 SAFCO.
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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 high credit balance is $13700.
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⚫ The typical loan duration is 40 months.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for SAFCO:
Address:
- Suite #5056 4054, Willow Lake Blvd., Memphis, TN 38153
Website:
Email:
Phone:
Payments
To make a payment, customers can call 800-599-8858 or 866-826-5243, email contactus@gosafco.com, or make a payment online. Customers can also make payments using a check or money order, through the SAFCO mobile app, or with a prepaid debit card. Wire transfer payments can also be made by calling our Customer Support at 800-599-8858 or National Buying Center at 866-826-5243. Late or missed payments may incur penalties, depending on the terms of the loan.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| 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
The website does not offer loan forgiveness or consolidation.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
Customers can apply for a loan online or over the phone by calling customer support. You cannot apply for a loan in person or through a mobile app. You can, however, apply for a loan with a cosigner.
| 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 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 SAFCO FKA VALU AUTO FI 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.