What does FFCC/ALCHRO mean on my credit report?
Learn about FFCC/ALCHRO, an collections agency offering loans for financial assistance. Check the impact to your credit report and financial status.
What is FFCC/ALCHRO?
FFCC/ALCHRO is shorthand for First Federal Credit & Collections, with the company name being First Federal Credit & Collections Inc
First Federal Credit Collection Inc. was formed in 1986 in Miami, Florida, to collect overdue accounts for healthcare companies. Its representatives are trained to deal with consumers with compassion and respect, while always preserving their creditors’ interest. Since 2018, Miryam Rolnik is President of First Federal Credit Collection Inc., which became operational in 1989, when she joined the company as vice president of operations. In 1998 she took over the role of Chief Operating Officer and Secretary General.
FFCC/ALCHRO is a Collections Agency provider. They could be on your report for a number of reasons, for example:
- ⚫ You missed a repayment.
- ⚫ You opened an account with First Federal Credit & Collections.
- ⚫ First Federal Credit & Collections bought your debt and are now trying to collect on it.
- ⚫ You opened a credit card / loan / mortgage with this company.
- ⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average account balance is $100.
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⚫ The average high credit balance is $100.
The account is classified under the following METRO2 categories:
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for First Federal Credit & Collections:
Address:
- 1940 Harrison St Ste 202, Hollywood, FL 33020, United States
Website:
Email:
Phone:
Payments
First Federal Credit Control (FFCC) offers online payment via credit card for a Master Account Number and Payment Amount on their website. There is no monthly payment plan option. Once a payment is received for a reserved parking permit, refunds are not available. Making payments over the phone is not an option. There is an announced update wherein new features will be added in multiplayer, and the FFCC Remastered Edition Original soundtrack has been released for sale. There are additional items available in the Japanese version, such as a Golden CD and FFCC themed posters. There is no discount for automatic payments. Making payments using a check or money order is not an option. FFCC Events offers a mobile payment option for its members. There are no penalties for late or missed payments.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments online? | Yes |
| Can I make a payment using a mobile app? | Yes |
Forgiveness and Cancellation
There are three main types of student loans in the United States: federal student loans, private student loans, and Parent PLUS Loans. Federal student loans are the most common type of student loan. To qualify for loan forgiveness, you must be employed by a qualifying employer and make 120 qualifying payments. For consolidation, you must have a Direct Consolidation Loan. You can consolidate most types of federal student loans. Private student loans can be consolidated, but you need to contact your lender to see if you qualify.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
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 Collections Agency?
Collection agencies appear on your report when a company has failed to collect an outstanding debt. If a creditor has sent your debt to collections, they expect to receive only a portion of any money collected. For them, this is preferable to receiving nothing at all continuing the process of trying to collect your debt themselves. However due to the agressive nature of some collection agencys, you may feel threatened or harrassed by them. However, the good news is that if they inaccurately reported your debt and you take the correct credit repair action, there is a good chance that you will not have to repay and inaccurately reported debt.
How do I remove FFCC/ALCHRO 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.