What does PARAMONT CAPITAL GROUP mean on my credit report?
Learn about PARAMONT CAPITAL GROUP, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is PARAMONT CAPITAL GROUP?
PARAMONT CAPITAL GROUP is shorthand for Paramount Capital Group LLC, with the company name being Paramount Capital Group LLC Inc
“Paramount’s application process is straightforward. We receive a credit decision in a reasonable time frame, and they are consistently flexible and work with us to meet our requirements. Staff at Paramount are always extraordinarily helpful and reply promptly to my queries or concerns.”
PARAMONT CAPITAL GROUP 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 Paramount Capital Group LLC.
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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.
How do I contact them?
Here is the current contact details for Paramount Capital Group LLC:
Address:
- 150 1st Ave #1001, King of Prussia, PA 19406, United States
Website:
Email:
Phone:
Payments
To make a payment, visit www.MyParamountLoan.com, download the Paramount Capital Group mobile app, or call 866-681-7282. Payments can be made by check or money order. There are late fees or other penalties for late or missed payments.
| 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? | No |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
Bank of America offers loan consolidation services to customers. Loan forgiveness is available to eligible borrowers under the Public Service Loan Forgiveness Program and other loan forgiveness programs. To qualify, borrowers must make 120 qualifying payments on their eligible loans over the course of 10 years, be employed full-time in an eligible public service job at a qualified employer, and meet other requirements.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
Paramount Capital Group offers loans that can be applied for online, over the phone, or using a mobile app. A cosigner can apply for a loan with Paramount Capital Group.
| Question | Answer |
|---|---|
| Can I apply for a loan online? | Yes |
| Can I apply for a loan over a phone call? | Yes |
| Can I apply for a loan in person? | No |
| 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 PARAMONT CAPITAL GROUP 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.