What does CARMELFIN mean on my credit report?

Is CARMELFIN making an impact credit score?

Updated May 1, 2022

What is CARMELFIN?

CARMELFIN is shorthand for Carmel Financial Corporation, Inc, with the company name being Carmel Financial Corporation, Inc LLC

CARMELFIN is a Creditor. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Carmel Financial Corporation, Inc.

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

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

How do I contact them?

Here is the current contact details for Carmel Financial Corporation, Inc:

Address:

  • 580 E Carmel Dr Suite 101, Carmel, IN 46032, United States

Website:

Email:

Phone:

  • 800-727-2987

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

CARMELFIN 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 CARMELFIN 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.