What does FIRST INV SC mean on my credit report?

Learn about FIRST INV SC, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is FIRST INV SC?

FIRST INV SC is shorthand for First Investors Servicing Corporation, with the company name being First Investors Servicing Corporation Inc

Moreover, the company emphasizes high levels of service to its client dealers, as well as stability in its financing processes. The company acquires potential customer scores using its own customized model tools, and first investors has completed eight portfolio acquisitions either alone or in conjunction with third parties. First Investors has a proven track record of achieving superior performance results and has closed eight outsourcing agreements.

FIRST INV SC 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 First Investors Servicing Corporation.

  • ⚫ 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 $6900.

  • ⚫ The average high credit balance is $21300.

  • ⚫ The average monthly repayment is $300.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan
  • ⚫ Collection Agency/Attorney
  • ⚫ Auto

How do I contact them?

Here is the current contact details for First Investors Servicing Corporation:

Address:

  • 3065 Akers Mill Rd SE, Suite 700 Atlanta, GA 30339

Website:

Email:

Phone:

Payments

There are several ways to make a payment, including online, over the phone, and using a mobile app. There may be penalties for late or missed payments. You can also use a prepaid debit card, wire transfer, or check/money order to make a payment.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? Yes
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

Loan forgiveness and consolidation are both options from Sallie Mae. Loan forgiveness may be an option if you work in certain public service jobs, and consolidation can simplify repayment by combining multiple federal student loans into one.

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

How to Apply

It is possible to apply for a loan online, over the phone, in person, or using a mobile app. It may also be possible to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
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.

FIRST INV SC 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 FIRST INV SC 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.