What does CONCORDIA BANK & TRUST mean on my credit report?

Is CONCORDIA BANK & TRUST making an impact on your credit score?

Updated January 1, 2023
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What is CONCORDIA BANK & TRUST?

CONCORDIA BANK & TRUST is shorthand for Concordia Bank & Trust Co, with the company name being Concordia Bank & Trust Co Inc

This advanced method of conducting business with Concordia Bank is only another chance to offer our friends the best possible customer experience.

CONCORDIA BANK & TRUST is a Bank provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Concordia Bank & Trust Co.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Business Loan

How do I contact them?

Here is the current contact details for Concordia Bank & Trust Co:

Address:

  • 904 Carter Street PO Box 518 Vidalia, LA 71373

Website:

Phone:

Payments

Concordia Bank offers several methods for making payments, including Online/Mobile Banking, Express Phone Banking, and Express Checking. There are also other payment options, such as using a check or money order. Concordia Bank provides online and mobile banking services to its customers. There are penalties for late or missed payments.

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? Yes
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

There are three main types of student loans in the US: federal student loans, private student loans, and parent PLUS loans. Federal student loans offer benefits that private loans do not, such as loan forgiveness and income-driven repayment plans. To qualify for loan forgiveness, you must be employed in a public service job or have made 120 qualifying monthly payments. You can consolidate your federal student loans into a single Direct Consolidation Loan. Private student loans cannot be consolidated into a Direct Consolidation Loan.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. Some loans may require a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
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.

CONCORDIA BANK & TRUST 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 Bank

A bank is an institution where money is kept for saving or commercial purposes. They are able to offer Loans and Mortgages which means they have the ability to report on your credit. Banks are generally felt as untrustworthy (30% confidence rating in the USA) by the general public. Banks can make mistakes on your credit report which may lower your credit score, potentially damaging your credit report and costing you money.

How do I remove CONCORDIA BANK & TRUST 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.