What does 1ST FRANKLIN FINANCIAL mean on my credit report?

Is 1ST FRANKLIN FINANCIAL making an impact on your credit score?

Updated January 1, 2023

What is 1ST FRANKLIN FINANCIAL?

1ST FRANKLIN FINANCIAL is shorthand for 1st Franklin Financial, with the company name being 1st Franklin Financial LLC

1ST FRANKLIN FINANCIAL is a Loan Provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with 1st Franklin Financial.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $800.

  • ⚫ The average high credit balance is $2300.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Unsecured
  • ⚫ Collection Agency/Attorney
  • ⚫ Secured

How do I contact them?

Here is the current contact details for 1st Franklin Financial:

Address:

  • 135 E. Tugalo Street, PO Box 880, Toccoa, GA 30577

Website:

Phone:

Payments

1ˢᵗ Franklin Financial offers loans that can be applied for online. Decisions are made at a local office, and if approved, funds could be available as soon as the next day. Loan office hours of operation are 8:30 am to 5:30 pm Monday through Friday, and 8:30 am to 1:30 pm on Wednesday. Customers can request to stop receiving mailings from 1ˢᵗ Franklin Financial by completing a removal request form. Account statements are available through online account activity, but cannot be sent via email.1ˢᵗ Franklin Financial loans are different from payday loans as final loan decisions are based on credit and payment history, and the loan terms can be tailored to meet the customer’s needs. They offer online applications, with decisions made at a local 1ˢᵗ Franklin Financial office. Most applications are completed within two business days and approved loans can have money available as soon as the next day.To get a payment refund, contact your local 1ˢᵗ Franklin Financial office or complete the removal request form. Payments can be made in-person at the office or online. It is not possible to make payments over the phone.1ˢᵗ Franklin Financial does not offer a discount for automatic payments. 1ˢᵗ Franklin Financial also accepts payment via check or money order.1ˢᵗ Franklin Financial loans are different from payday loans as they offer competitive interest rates and flexible repayment plans. There may be penalties for late or missed payments, including late fees and increased interest rates.you can make a payment using a prepaid debit card. you can make a payment using a wire transfer.

Question Answer
Do they offer a monthly payment plan? No
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

1st Franklin Financial offers loan consolidation services and the potential to build credit. Loan decisions are based on credit history, payment history and the borrower’s ability to make monthly payments. Loan applications can be made online, and if approved, funds can be available as soon as the next day. Loan office hours are 8:30 am to 5:30 pm Monday, Tuesday, Thursday and Friday, and 8:30 am to 1:30 pm on Wednesday. Additionally, customers can opt out of mailings from 1st Franklin Financial.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? Yes

How to Apply

1st Franklin Financial offers loans that can be applied for online, in person, or using a mobile app. Loan decisions are made on a local level, and if approved, customers can have the money they need as soon as the next day. 1st Franklin Financial loans differ from payday loans in that they may have lower interest rates, and the loan decisions are made in your local 1st Franklin Financial office, based on a variety of factors.

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.

1ST FRANKLIN FINANCIAL 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 Loan Provider?

A loan provider is a bank or financial organization that can provide loans. In order to apply for a loan they will run a hard inquiry on your credit account which will negatively impact your credit report. They may make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.

How do I remove 1ST FRANKLIN FINANCIAL 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.