What does STAR LOANS mean on my credit report?
Learn about STAR LOANS, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is STAR LOANS?
STAR LOANS is shorthand for Star loans, with the company name being Star loans Inc
As the star loans is more a loan solution, we are your family, your friends, your community. This continuing emphasis allows us to create positive business relationships with our community. Each of our branches are managed by local people who know their communities and have the expertise to meet your financial needs on site with loan decisions being made in minutes.
STAR LOANS is a Loan 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 Star loans.
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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
- ⚫ Secured
How do I contact them?
Here is the current contact details for Star loans:
Address:
- 917 E. Mulberry Angleton, TX 77515
Website:
Phone:
Payments
payments can be made online, over the phone, or in person. Online payments can be made with a credit card, debit card, or e-check. Phone payments can also be made with a credit or debit card. In-person payments can be made with cash, check, or money order.The business does not offer a monthly payment plan, but they do offer the ability to make a payment using a mobile app. There are no penalties for late or missed payments.
| 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 |
| 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
this institution does not offer loan forgiveness or consolidation. To qualify for forgiveness, borrowers must typically meet specific requirements such as having a qualifying loan type, making 120 or more qualifying payments, and being employed in an eligible job or public service field.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
you can apply for a loan online, in person, or using a mobile app. You can 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? | 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.
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 STAR LOANS 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.
