What does SUN FNANCE mean on my credit report?

Is SUN FNANCE making an impact credit score?

Updated May 1, 2022

What is SUN FNANCE?

SUN FNANCE is shorthand for Sun Life, with the company name being Sun Life LLC

At Sun Life we want to do business with suppliers who share our values; they are client focus, integrity, engagement, excellence and innovation. Client data safety and security is one of our highest priorities, which is why we have our “Code of Conduct and Ethics Hotline”.

SUN FNANCE is a Creditor. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Sun Life.

  • ⚫ 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:

  • ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for Sun Life:

Address:

  • 1 York Street Toronto, Ontario M5J 0B6

Website:

Email:

Phone:

  • 416-979-9966

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

SUN FNANCE 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 SUN FNANCE 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.