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FICO Credit Score Question: Auto Loan incorrectly reported as closed with balanc
Posted on 8/14/15 at 1:29 pm
Posted on 8/14/15 at 1:29 pm
Suntrust reported my auto loan as closed due to an error in their system but still reports the credit balance. How does that affect my credit score?
-Auto loan is "youngest account"
-All payments are reported on time and are current (July)
-Balance is accurately reported
-Account is reported as closed
-Auto loan is "youngest account"
-All payments are reported on time and are current (July)
-Balance is accurately reported
-Account is reported as closed
2
Posted on 8/14/15 at 2:01 pm to GenesChin
Go online and submit your issue to the credit companies. You can PDF docs showing there was no closed account. I did this about six months ago and it cleared up in about a month.
This post was edited on 8/14/15 at 2:04 pm
Posted on 8/14/15 at 2:50 pm to patnuh
Getting my mortgage right now and can't have a dispute on my account
I don't think it is having a huge affect but I want to check
I don't think it is having a huge affect but I want to check
This post was edited on 8/14/15 at 2:50 pm
Posted on 8/14/15 at 3:03 pm to GenesChin
quote:
Getting my mortgage right now and can't have a dispute on my account
Talk to your mortgage guy, that is what they are there to do.
Have you tried calling sunTrust and telling them about the issue? If the loan is still being paid, they should be able to fix it on their next update.
Posted on 8/14/15 at 4:09 pm to GenesChin
quote:They have already pulled an reviewed your credit reports I am sure you would know if it was an issue
Getting my mortgage right now
Posted on 8/14/15 at 8:48 pm to GenesChin
So are you saying it's not actually paid off yet and is still open? I paid off a personal loan last week and according to MyFico, my Equifax score dropped 5 points and Experian 1 point due to closing it. This was a pretty old account too. So I would guess you only lost a few points, if any, by having the account showing as closed.
Posted on 8/16/15 at 3:34 am to JonTheTigerFan
Before filing any type of dispute, check with your mortgage lender. If your current score or potential score increase isn't passing any break points, then I wouldn't be worried about it.
Example- if you are worried about 780 vs 760 vs 740...anything above 740 usually gets you best rate anyway.
Example- if you are worried about 780 vs 760 vs 740...anything above 740 usually gets you best rate anyway.
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