What does TBFFIN mean on my credit report?
Learn about TBFFIN, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is TBFFIN?
TBFFIN is shorthand for TBF Financial LLC, with the company name being TBF Financial LLC Inc
TBFFIN 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 TBF Financial 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.
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 TBF Financial LLC:
Address:
- 870 Sheridan Rd, Highwood, IL 60040, United States
Website:
Email:
Phone:
Payments
TBF Financial offers quick and easy payment for non-performing commercial accounts from banks, fintech lenders, and merchant cash advance companies. Payment is wired after you sign the purchase agreement. They offer aggressive prices and immediate cash at closing. There are no monthly payments, but discounts are not offered for automatic payments. You can make a payment online, over the phone, or through a mobile app. Wire transfer is also an option. If you make a late or missed payment, there may be penalties.
| 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? | Yes |
| Can I make a payment using a prepaid debit card? | Yes |
| Can I make a payment using a wire transfer? | Yes |
Forgiveness and Cancellation
TBF Financial does not offer loan consolidation or forgiveness. They are a leading purchaser of loan and lease charge-offs that offers competitive and flexible pricing. They specialize in non-performing commercial accounts from banks, fintech lenders, and equipment finance companies up to four years old from the date of last payment. Payments are wired after signiture of the purchase agreement.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan with TBF Financial in person, over the phone, or using their mobile app. You may also 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? | Yes |
| Can I apply for a loan in person? | Yes |
| 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 TBFFIN 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.
