What does ALAMO LOAN mean on my credit report?

Is ALAMO LOAN making an impact on your credit score?

Updated January 1, 2023

What is ALAMO LOAN?

ALAMO LOAN is shorthand for Alamo Loan Co, with the company name being Alamo Loan Co

ALAMO LOAN is a Loan Provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Alamo Loan Co.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

How do I contact them?

Here is the current contact details for Alamo Loan Co:

Address:

  • 534 Bandera Rd, San Antonio, TX 78228, United States

Website:

Email:

Phone:

Payments

Alamo Loan Company offers personal loans up to $1,600 with terms of 2-12 months and auto title loans up to $1,600 with terms of 2-12 months. You can apply for these loans over the phone or online, and payments can be made in person, over the phone, or through the mobile app. For more information about payment options, contact Alamo Loan Company at 210-736-4898 or visit 534 Bandera Rd, San Antonio, TX 78228.

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

Alamo Loan Company offers personal loans and auto title loans up to $1,600 with terms of 2-12 months. Some applicants are approved in as little as 30 minutes. Loan forgiveness is not offered. To apply, call 210-736-4898 or email alamoloan1@gmail.com. All applications are subject to approval on an individual basis.

Question Answer
Do they offer loan forgiveness? No

How to Apply

You can apply for a loan with Alamo Loan Company in San Antonio, TX in person, over the phone, or using a mobile app. Some applicants are approved for personal loans up to $1,600 within 30 minutes. Terms are 2-12 months. You can also apply for a loan with a cosigner. Business hours are Mon - Fri 8:30 am - 5:30 pm, Saturday 8:30 am - 12:30 pm and Sunday Closed.

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

SmartCredit Report Example

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

ALAMO LOAN SmartCredit 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.

What is a Loan Provider?

A loan provider is a bank or financial organization that can provide loans. In order to apply for a loan they will run a hard inquiry on your credit account which will negatively impact your credit report. They may make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.

How do I remove ALAMO LOAN 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.