What does W ALABMA B&T mean on my credit report?
Learn about W ALABMA B&T, an bank offering loans for financial assistance. Check the impact to your credit report and financial status.
What is W ALABMA B&T?
W ALABMA B&T is shorthand for West Alabama Bank and Trust, with the company name being West Alabama Bank and Trust Inc
A growing financial institution, yes–however, we will always emphasize our commitment to providing quality service and to the communities that we serve. Please take a moment to visit our products and services. The West Alabama Bank wants to be your bank.
W ALABMA B&T 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 West Alabama Bank and Trust.
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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
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for West Alabama Bank and Trust:
Address:
- 509 1st Avenue W Reform, AL 35481
Website:
Email:
Phone:
Payments
you can make a payment by selecting an Account and logging in, then selecting a Checking, Savings, Loan, Card Service, or other financial service. Different loan types, such as conventional fixed-rate, adjustable-rate, FHA, VA, and USDA loans are available, and you can choose to “lock” your interest rate or purchase discount points to lower the rate.Other payment options, such as using a check or money order, are available. You can make a payment using a mobile app. Discount points are an upfront fee that you pay to get a lower interest rate on your mortgage loan.there are penalties for late or missed payments. These may vary depending on the type of loan, but may include additional interest charges, fees, and negative credit score reporting.
| 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, there are several different types of mortgages to choose from. It is important to speak with a lender to determine which loan is best for you. Additionally, it is usually recommended to lock in an interest rate, and discount points are also available.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
It is possible to apply for a loan online, over the phone, in person, or using a mobile app. If you are struggling to qualify for a loan on your own, you may be able to apply with a cosigner. There are many types of loans available, each with its own set of benefits. You may want to lock in your interest rate to avoid rate hikes in the future.
| 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 |
SmartCredit Report Example
- This is an example of what this creditor will look like on your SmartCredit 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 W ALABMA B&T 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.
