What does SOLARIT CU mean on my credit report?
Learn about SOLARIT CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SOLARIT CU?
SOLARIT CU is shorthand for Solarity Credit Union SCU, with the company name being Solarity Credit Union SCU Inc
SOLARIT 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 Solarity Credit Union SCU.
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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 Solarity Credit Union SCU:
Address:
- P.O. Box 2922 Yakima, WA 98907‑2922
Website:
Phone:
Payments
Solarity Credit Union does not provide information about making payments in this FAQ section. However, information about their routing number, mailing address, loan payment assistance, and other services are available. You can make payments online by transferring money to an external financial institution. You can use either direct deposit or a check, depending on the recipient’s routing and account numbers. you can make a payment using a mobile app by selecting ‘Bill Pay’ once a Payee has been set up in online banking. there are no penalties for late or missed payments.
| 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? | No |
| Can I make a payment using a wire transfer? | No |
Forgiveness and Cancellation
they do not offer loan forgiveness or consolidation. To qualify for loan forgiveness, you must have made 120 qualifying monthly payments while employed in a public service job. These payments must be made under an income-driven repayment plan, such and Income-Based Repayment (IBR) or Pay As You Earn (PAYE). Additionally, the loan must have been taken out prior to October 1, 2007 and must have been in repayment as of October 1, 2017.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online in a few easy steps. Many lenders offer online loan applications, allowing you to fill out the necessary forms and submit them digitally. Depending on your qualifications and lender, you may have access to the funds quickly. You cannot apply for a loan over a phone call, in person, or using a mobile app. With Solarity Credit Union, you cannot apply for 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? | No |
| Can I apply for a loan using a mobile app? | No |
| Can I apply for a loan with a cosigner? | No |
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 SOLARIT 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.
