What does CARFINSVCS mean on my credit report?

Is CARFINSVCS making an impact on your credit score?

Updated January 1, 2023
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What is CARFINSVCS?

CARFINSVCS is shorthand for Car Financial Services Inc, with the company name being Car Financial Services Inc Inc

We are strong on experience and professionalism; our strength is also due to our dedicated staff and their ability to provide tailored solutions for qualified investors seeking financial services within this niche.

CARFINSVCS 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 Car Financial Services Inc.

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

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

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Auto
  • ⚫ Auto Loan
  • ⚫ Lease
  • ⚫ Auto Lease

How do I contact them?

Here is the current contact details for Car Financial Services Inc:

Address:

  • 5 Concourse Pkwy 300 aThe Queen Building, Atlanta, GA 30328, USA

Website:

Email:

Phone:

Payments

CAR Financial offers various payment options for customers, including online payments, phone payments, and wire transfer. 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? Yes
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? Yes

Forgiveness and Cancellation

CAR Financial does not offer loan forgiveness or consolidation. It is not clear how to qualify for loan forgiveness.

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

How to Apply

you cannot apply for a loan online, over the phone, or in person. CAR Financial also does not have a mobile app for loan applications. It is also not possible to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? No
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.

CARFINSVCS 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 CARFINSVCS 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.