What does 1STEQUITY mean on my credit report?
Learn about 1STEQUITY, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is 1STEQUITY?
1STEQUITY is shorthand for 1ST EQUITY NATIONAL TITLE, with the company name being 1ST EQUITY NATIONAL TITLE & CLOSING SERVICES
Since 2004, Mike Cave has served as president and CEO of First Equity Title Company LLC. During this time period, Mike has introduced a value-add approach to gaining new customers and nurtured his existing business connections. He is often called upon by his clients as their highest representative for introducing them to new business opportunities. At Stony Brook University, Mike completed studies in business management and marketing.
1STEQUITY is a Loan 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 1ST EQUITY NATIONAL TITLE.
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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 1ST EQUITY NATIONAL TITLE:
Address:
- 538 Broad Hollow Rd Suite 315, Melville, NY 11747
Website:
Email:
Phone:
Payments
1st Equity National Title & Closing Services offers many payment options such as online payment, wire transfer, check, and money order. 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 |
| Can I make a payment using a mobile app? | No |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
ABC Bank offers loan consolidation and loan forgiveness. To qualify for loan forgiveness, one must obtain title insurance, which protects individuals against hidden title defects and eliminates risks. Title insurance is important and can be obtained from an independent title agency.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
1st Equity Title & Closing Services offers loan application services online and in person. They require that you visit a financial institution in person to apply for the loan. The company specializes in providing title insurance and closing services for real estate transactions and have other contact avenues for inquiries.
| 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? | No |
| 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 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 1STEQUITY 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.
