What does ELAN CACS CC mean on my credit report?
Learn about ELAN CACS CC, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is ELAN CACS CC?
ELAN CACS CC is shorthand for Elan Financial Services, with the company name being Elan Financial Services Inc
ELAN CACS CC is a Creditor 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 Elan Financial Services.
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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.
About the account
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⚫ The average account balance is $3400.
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⚫ The average high credit balance is $3100.
The account is classified under the following METRO2 categories:
- ⚫ Collection Agency/Attorney
- ⚫ Credit Card
How do I contact them?
Here is the current contact details for Elan Financial Services:
Address:
- 321 Olive Blvd Saint Louis, MO
Website:
Phone:
Payments
There are many ways to make payments, including online, over the phone, and through a mobile app. You can also use a prepaid debit card, wire transfer, or check/money order in some cases. There may be 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? | No |
Forgiveness and Cancellation
The website offers loan forgiveness and consolidation. To qualify for loan forgiveness, the website says you must make 120 on-time, full payments. After that, you may be eligible for forgiveness of the remaining balance due on your loan.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
How to Apply
It is possible to apply for a loan online, over the phone, or in person. Some lenders also offer mobile apps. In some cases, it may be possible to apply for a loan with a cosigner.
| 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 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.
How do I remove ELAN CACS CC 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.