What does GREAT LKS CU mean on my credit report?
Learn about GREAT LKS CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is GREAT LKS CU?
GREAT LKS CU is shorthand for Great Lakes Credit Union, with the company name being Great Lakes Credit Union Inc
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GREAT LKS CU is a Credit Union 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 Great Lakes Credit Union.
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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 account balance is $5500.
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⚫ The average high credit balance is $7900.
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⚫ The average monthly repayment is $200.
The account is classified under the following METRO2 categories:
- ⚫ Collection Agency/Attorney
- ⚫ Auto Loan
- ⚫ Unsecured
- ⚫ Credit Card
- ⚫ Auto
How do I contact them?
Here is the current contact details for Great Lakes Credit Union:
Address:
- P.O. Box 1289, Bannockburn, IL 60015
Website:
Email:
Phone:
Payments
Payments can be made online, through a bank transfer, or by mail. To make a bank transfer, you will need to provide your bank account and routing numbers. If you are sending a payment by mail, you will need to include all the necessary information and send the payment to the address provided. The company offers a monthly payment plan for customers who require more flexible payment terms. Refunds can be requested by contacting a merchant directly and providing the transaction details. Depending on the merchant’s refund policy, the refund may take some time to process and may be subject to certain conditions. Payments can be made over the phone. Most payment companies allow customers to make payments over the phone using their credit or debit card. It’s a secure and convenient way to make payments. You can make payments online by using a variety of payment methods including credit cards, PayPal, and other online payment services. Customers can also pay with a check or money order. Mobile apps allow customers to make payments easily and securely. Many businesses offer their own payment app or integrate with third-party services to provide customers with a convenient way to pay online. Late or missed payments can incur penalties. Depending on the payment, these penalties could include late fees, overdraft fees, or interest. It is important to keep track of all payments and ensure that they are made on time. It is possible to make a payment using a prepaid debit card. Pre-paid debit cards are convenient and may be used in place of cash or a check to make payments online, in-store, or over the phone. You can make a payment using wire transfer. Wire transfers allow you to quickly and easily send money from one bank account to another. The process is secure and the funds are available almost immediately.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | Yes |
| Can I make payments over the phone? | Yes |
| Can I make payments online? | 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
both loan forgiveness and consolidation are available through the Federal Student Aid website. To qualify for loan forgiveness, you must have made 120 qualifying payments on your Direct Loans after October 1, 2007. To consolidate your loans, you must have a Direct Consolidation Loan application and a completed Direct Consolidation Loan Master Promissory Note.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
You can apply for a loan online, over the phone, or in person. You can also use a mobile app to apply for a loan. You may be able to get 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 Credit Union
A credit union is similar to a bank, however it is owned collectively by the members and does not operate on a for-profit basis. Many credit unions are able to provision credit and issue credit cards, which may report on your credit report. Due to the none-profit nature of credit unions they are generally more trusted by the public, as they are less likely to act in a malicious fashion. However, credit unions can still make mistakes with reporting on your credit report therefore being aware of what is being reported, and take action against any unfair reporting.
How do I remove GREAT LKS CU 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.
