What does MONTEREY FINANCIAL S mean on my credit report?

Updated January 1, 2023

What is MONTEREY FINANCIAL S?

MONTEREY FINANCIAL S is shorthand for Monterey Financial, with the company name being Monterey Financial Inc

MONTEREY FINANCIAL S 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 Monterey Financial.

• ⚫ 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 Monterey Financial:

Website:

• montereyfinancial.com

Payments

Monterey Financial Services offers various payment options for consumers, including online payments, phone payments, and payments through a mobile app. Some payments, like wire transfer payments, may have additional processing fees. There are delinquent debt recovery services which may involve penalties for late or missed payments.

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?	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?	Yes

Forgiveness and Cancellation

Monterey Financial Services does not offer loan forgiveness or consolidation. Their services include consumer financing programs, loan servicing, debt recovery solutions, and the opportunity to work as a registered broker in alternative financing.

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

How to Apply

Monterey Financial Services offers a variety of ways to apply for a loan, including online, in person, and with a cosigner. They also offer mobile access to their professional Loan Servicing program.

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?	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.

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 MONTEREY FINANCIAL S 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