At least thats the way my credit report looks now. Technically, I only have one.
So here's the story.
1st Car: Financed (Capital One) a car in January 2007, this car was totaled in January 2008. Mostly paid off by insurance company. Still waiting for GAP to cover the rest (will be sending the check out on Friday). Capital One has not updated since February 2008 (guess they want the rest of they're money, LOL)
2nd Car: Well of course I had to buy a car cause my first one was totaled. Financed (AmeriCredit) that car in February 2008 then refinanced in April 2008, which leads me to the 2rd car
3rd Car: Financed i(Wells Fargo) in April as stated above and is already showing up on all three credit reports, even though first pmt is not due until June 9th. I got a 25point drop on my Equifax score when this account posted.
So my question is this: Once the 1st and 2nd cars report as paid, hopefully the beginning of June, will I see a increase in my scores? Cause as it stands right now, it looks like I have over $100K of overall debt, which in actuality I only have about $36K. I also paid off a $5k Cash Call loan, that should update to paid as well.
What will happen to my scores? I have a Chapte7 BK discharged in January 2007. That $100K of debt includes everything on my credit reports, credit cards, cars, student loans, & cash call.