What does TFC CREDIT mean on my credit report?
Learn about TFC CREDIT, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is TFC CREDIT?
TFC CREDIT is shorthand for TFC Credit Corporation, with the company name being TFC Credit Corporation Inc
We take great pride in knowing that every day our work helps make this goal a reality for thousands of students from around the country. We support all levels of educational programs TFC’s help has helped thousands of schools just like yours reach, enroll, retain, and enhance student success. Our programs are designed to be flexible and work well for all kinds of schools and educational programs. Since 1970, TFC has helped schools and their students flourish for 50 years.
TFC CREDIT 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 TFC Credit Corporation.
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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
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⚫ The average account balance is $1000.
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⚫ The average high credit balance is $3500.
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⚫ The typical loan duration is 26 months.
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⚫ The average monthly repayment is $100.
The account is classified under the following METRO2 categories:
- ⚫ Education
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for TFC Credit Corporation:
Address:
- 2010 Crow Canyon Pl # 300, San Ramon, CA 94583, United States
Website:
Phone:
Payments
TFC does not offer a monthly payment plan, but payments can be made online, through a mobile app, or via wire transfer. There are penalties for late or missed payments, which TFC will follow up on using live counselors and automated messages. Additional documents are available upon request.
| 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
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online, over the phone, or in person. Most lenders require the completion of an online form or an in-person visit to their branch in order to begin the loan application process. You can apply for a loan using a mobile app. Most banks and financial institutions now offer loan applications that can be accessed through mobile devices, allowing customers to apply for loans anytime, anywhere. 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? | 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 TFC CREDIT 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.