What does SOUTHERN FINANCE/SMC mean on my credit report?
Learn about SOUTHERN FINANCE/SMC, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SOUTHERN FINANCE/SMC?
SOUTHERN FINANCE/SMC is shorthand for Southern Finance
, with the company name being Southern Finance Inc
SOUTHERN FINANCE/SMC 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 Southern Finance.
-
⚫ You opened a credit card / loan / mortgage with this company.
-
⚫ Someone fraudulently opened a credit line under your name.
About the account
The account is classified under the following METRO2 categories:
- ⚫ Note Loan
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for Southern Finance:
Address:
- 246 E. Center Street Kingsport, TN 37660
Website:
Phone:
Payments
Southern Finance offers secured and unsecured loans to individuals. You can apply for a personal loan between $100 - $1500, an auto purchase or auto equity loan between $500 - $10,000, or a real-estate/home equity loan from $3000 to $25,000. Call a local office to make a payment. Payments can be made online. You can make a payment using a prepaid debit card, as long as your bank account is active and you can make cash withdrawals on that account. There are no penalties for late or missed payments.
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? | No |
Can I make a payment using a prepaid debit card? | Yes |
Can I make a payment using a wire transfer? | No |
Forgiveness and Cancellation
National Debt Relief does not offer loan consolidation or forgiveness. To qualify for a loan, you must be a South African citizen, employed, and have a valid bank account. You will need to provide personal information and employer details, as well as banking details. You must also have a regular salary that is paid into your bank account.
Question | Answer |
---|---|
Do they offer loan forgiveness? | No |
Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online. You need to be a South African citizen and above 18 years of age, employed and have a valid bank account. You also need to provide personal information, bank details, and need to be employed to qualify for the loan. Payments are made into your bank account and are safe and secure. you can apply for a loan with a cosigner.
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? | 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 SOUTHERN FINANCE/SMC 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.