What does AZ PREMIUM FINANCE CO mean on my credit report?

Is AZ PREMIUM FINANCE CO making an impact on your credit score?

Updated January 1, 2023
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What is AZ PREMIUM FINANCE CO?

AZ PREMIUM FINANCE CO is shorthand for Arizona Premium Finance Co, with the company name being Arizona Premium Finance Co

The consumer is not subjected to a credit check, the only condition for gettinga premium finance charge is that the customer must be selling a valid insurancepolicy that meets financing qualifications. Personal and commercial policiesqualify for financing except workers' compensation policies.The loan is made when an agent sells the insurance policy withcompletion of a simple 1-page Finance Agreement. Each month they receive amoney coupons and send their payments to APFC by postal money order orcourier.

AZ PREMIUM FINANCE CO is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Arizona Premium Finance Co.

  • ⚫ 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 $300.

  • ⚫ The average high credit balance is $2000.

  • ⚫ The typical loan duration is 10 months.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney
  • ⚫ Unsecured

How do I contact them?

Here is the current contact details for Arizona Premium Finance Co:

Address:

  • 12406 N 32nd St #110, Phoenix, AZ 85032, United States

Website:

Email:

Phone:

Payments

Arizona Premium Finance Co. offers financing for most insurance policies, including personal auto policies, commercial policies, Vehicle Service Contracts (VSCs), and Vehicle Warranty Programs. They have a specialized program for each one. Customers can make payments online, through a mobile app, or with a prepaid debit card. 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? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

they do not offer loan forgiveness or consolidation.

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

How to Apply

Arizona Premium Finance Co. offers online loan applications for personal auto policies, commercial policies, general liability, excess & surplus lines, taxi, livery, black car, New York Assigned Risk Plan, Assigned Risk, Risk Retention Groups (RRG), vehicle service contracts (VSC) and vehicle warranty programs. You cannot apply for a loan over the phone or in person. Additionally, they offer financing for most types of insurance policies and complete servicing of Vehicle Service Contracts and Vehicle Warranty Programs.

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? 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.

AZ PREMIUM FINANCE CO 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.

How do I remove AZ PREMIUM FINANCE CO 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.