What does SPRUCE FIN mean on my credit report?
Learn about SPRUCE FIN, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SPRUCE FIN?
SPRUCE FIN is shorthand for Spruce Lending Inc, with the company name being Spruce Lending Inc Inc
SPRUCE FIN 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 Spruce Lending Inc.
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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.
About the account
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for Spruce Lending Inc:
Address:
- Box #660250 2701 East Grauwyler Rd., BLDG 1 Irving, TX 75061
Website:
Email:
Phone:
Payments
There are various ways to make a payment, including online, by check or direct debit/ACH. There is no monthly payment plan, but there is a discount for automatic payments. Customers can mail payments to Launch Servicing LLC at PO BOX 679220 Dallas, TX 75267.
| 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 |
Forgiveness and Cancellation
neither loan forgiveness nor consolidation are offered.
| Question | Answer |
|---|---|
| Do they offer loan consolidation? | No |
How to Apply
To apply for a loan, you can do it online, in person, or through a mobile app. Most lenders do not allow you to apply for a loan over the phone. You may need a cosigner for the loan.
| 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 |
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 SPRUCE 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.