What does LA FIN CU mean on my credit report?
Learn about LA FIN CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is LA FIN CU?
LA FIN CU is shorthand for LA Financia, with the company name being LA Financia Inc
Many American people had lost faith in banking and were difficult to find credit-worthy. “Loan sharks” preyed upon innocent citizens in every town. This was the vision that inspired seven individuals and a female partner to establish Los Angeles County Courthouse Employees’ Federal Credit Union in 1937.
LA FIN 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 LA Financia.
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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:
- ⚫ Credit Card
- ⚫ Auto
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for LA Financia:
Address:
- P.O. Box 6015 Pasadena, CA 91102-6015
Website:
Email:
Phone:
Payments
Most Americans will receive $3,000 a year for each child ages 6 to 17, and $3,600 for each child under 6. The ACH direct deposit for Economic Impact Payments (EIPs) will be Wednesday, March 17, 2021. Rejected ACH EIP payments will be reissued as paper checks starting the week of March 15. An EIP debit card is also available. you can get a payment refund by checking the status of your stimulus check and reading the Internal Revenue Service’s FAQ. You can deposit your check to your account with the LA Financial Credit Union’s routing number of 322077562.
| 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
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online through LA Financial Credit Union. you cannot apply for a loan over a phone call or in person. Also, you cannot apply for a loan using a mobile app. Cosigners are not necessary to apply for a loan with LA Financial Credit Union.
| 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? | No |
| Can I apply for a loan with a cosigner? | 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 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 LA FIN 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.
