What does CAROLINA FINANCIAL O mean on my credit report?

Updated January 1, 2023

What is CAROLINA FINANCIAL O?

CAROLINA FINANCIAL O is shorthand for Carolina FinanceLLC, with the company name being Carolina FinanceLLC Inc

CAROLINA FINANCIAL O 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 Carolina FinanceLLC.

• ⚫ 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 Carolina FinanceLLC:

Address:

• 511 S Church St, Mooresville, NC 28115, United States

Website:

• http:

Email:

• info@carofin.com

Phone:

• 803-777-8134

Payments

You can make payments online, over the phone, or using a mobile app. You can also make payments using a check, money order, wire transfer, or prepaid debit card. There is no monthly payment plan, but there is a discount for automatic payments. If you are late or miss a payment, there may be penalties.

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?	No
Can I make a payment using a wire transfer?	No

Forgiveness and Cancellation

There are three ways to qualify for loan forgiveness through this program. You must make 120 qualifying payments, work for a qualified employer, or serve in a full-time capacity for a qualifying public service organization.

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

How to Apply

You can apply for a loan online, over the phone, or in person. You might be able to apply for a loan using a mobile app. You might need a cosigner for a loan.

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

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.

How do I remove CAROLINA FINANCIAL O 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.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter