What does UMPQUA BANK mean on my credit report?
Learn about UMPQUA BANK, an bank offering loans for financial assistance. Check the impact to your credit report and financial status.
What is UMPQUA BANK?
UMPQUA BANK is shorthand for Umpqua Bank, with the company name being Umpqua Bank Inc
Umpqua believes that we can build an economic vitality together; we do this by placing our priority on people and their communities, which is true ifUmpqua is your personal savings, business bank or private bank. In addition to retail banking, Umpqua also offers comprehensive business banking and commercial lending services. We are a bank, but think of us as your financial partner.
UMPQUA BANK is a Bank 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 Umpqua Bank.
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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.
How do I contact them?
Here is the current contact details for Umpqua Bank:
Address:
- 6015 100th St SW Lakewood, WA 98499
Website:
Phone:
Payments
You can make a payment by logging in to your Umpqua Bank Mobile Banking app, tapping the menu button and selecting Deposit Checks from under the Transactions menu. You can also make payments online by logging in at www.umpquabank.com with your Company ID and User ID, and resetting your password if needed. There are other payment options such as using a check or money order. You can make a payment using a mobile app. You can make a payment using a prepaid debit card. You can make a payment using a wire transfer by using the Umpqua Bank routing number (123205054) or the Umpqua Bank routing number (SWIFT code) (UMPQUS6P) for international wire transfers.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | No |
| 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
they do not offer loan forgiveness or consolidation. To qualify for loan forgiveness you must be an authorized signer or owner of an Umpqua Checking, Savings or Money Market account and enrolled in Online and Mobile Banking.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online, using a mobile app, or 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? | No |
| 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 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 UMPQUA BANK 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.