What does FRIENDLY FIN mean on my credit report?

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

Updated January 1, 2023
Header image

What is FRIENDLY FIN?

FRIENDLY FIN is shorthand for Friendly Finance Corporation, with the company name being Friendly Finance Corporation Inc

For over 65 years, FFC has helped its customers with comprehensive lending services; FFC’s success starts from the principle of trust, equality, and permanent personal relations with its clients. Every applicant at FFC gets fair and consistent treatment during the entire application procedure and approval process. We want our customers to be aware that we are committed to ensuring their satisfaction with professional, ethical, and nondiscriminatory loan product and service offerings.

FRIENDLY FIN 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 Friendly Finance 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 high credit balance is $900.

The account is classified under the following METRO2 categories:

  • ⚫ Secured

How do I contact them?

Here is the current contact details for Friendly Finance Corporation:

Address:

  • 6340 Security Blvd Suite 200 Baltimore, MD 21207

Website:

Email:

Phone:

Payments

You can make a payment using Visa or MasterCard debit cards without additional fees, or with a Visa or MasterCard credit card for a fee of $6.75. You can also use MoneyGram or Western Union’s Quick Collect or Speed Pay services.

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? No

Forgiveness and Cancellation

Loan forgiveness and consolidation are two options that may be available to those struggling to repay their student loans. To find out if you qualify for either of these options, you should contact your loan servicer.

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 may also be able to apply for a loan using a mobile app. You may be able 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.

FRIENDLY FIN 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 FRIENDLY FIN 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.