What does SC STATE HOUSING FINAN mean on my credit report?

Updated January 1, 2023

What is SC STATE HOUSING FINAN?

SC STATE HOUSING FINAN is shorthand for South Carolina State Housing Finance and Development Authority, with the company name being South Carolina State Housing Finance and Development Authority Inc

SC STATE HOUSING FINAN 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 South Carolina State Housing Finance and Development Authority.

• ⚫ 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 $77700.

• ⚫ The average high credit balance is $113000.

• ⚫ The average monthly repayment is $1000.

How do I contact them?

Here is the current contact details for South Carolina State Housing Finance and Development Authority:

Address:

• 300 Outlet Pointe Blvd C, Columbia, SC 29210, United States

Website:

• http:

Phone:

• 803-896-9001

Payments

The SC HELP program is closed and all of the Hardest Hit Program Funds have been paid out. Homeowners may request a copy of their documents by emailing assistance@schelp.gov or by calling 803.896.9200. We recommend homeowners contact their servicer’s loss mitigation department for additional options.

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?	No
Can I make a payment using a wire transfer?	Yes

Forgiveness and Cancellation

they do not offer loan forgiveness or consolidation. However, homeowners may contact their servicer’s loss mitigation department for additional options, and can request a copy of their SC HELP closing documents or note by emailing assistance@schelp.gov or calling 803.896.9200.

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

How to Apply

The South Carolina Homeowner’s Equity and Recovery Loan Program (SC HELP) is closed and all funds have been paid out to approved homeowners. You cannot apply for a loan through SC HELP, either online, over the phone, or in person. We recommend contacting your servicer’s loss mitigation department for additional options.

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.

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 SC STATE HOUSING FINAN 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