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Car loan reporting

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Anonymous
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Car loan reporting

In error my car loan is reoprting 156 months as the loan terms. I know this is incorrect because my loan is for  60 months. Is the 156 month error hurting my score or is it no big deal? I ask because my score hasn't changed in months.
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Anonymous
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Re: Car loan reporting

This won't hurt the score.  The "new account" and debt balance is a factor.  The percentage of current balance to original loan amount is a factor.  But term is not...though I would call the lender (or write) and ask them to update it.

 

Also, the installment factors much less into FICO than the revolving.

 

 

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