How it affect FiCO score when the financial institution STOP reporting to credit bureaus?

[striders]

Hi all,

I have an account with Prosper Marketplace, a peer-to-peer lending community. I have a loan through them since 2008. However, for some reason, starting August 2010, they STOP updating my credit report. I have been contacting them on a monthly basis and they kept on saying they'll update it. Fast forward to 2011, nothing happened.

The end result is that my credit report showed that I owe MORE than the actual amount. I.e. in 08/2010, it shows I owe $1300~, but in actuality is I owe $800~. My loan will be paid off in August 2011 but my questions are:

1). As this moment, how will this affect my FICO score?

2). Beside complaining to Prosper and BBB, is there any other way for me to file a complaint to ensure Prosper update my credit report? My BIGGEST worries is that, comes August 2011 when I paid off the loan, Prosper will STILL NOT UPDATE the record and my credit report (may) forever show I still owe $1300 with Prosper.

[IOBA]

1 - yes, it does affect FICO score in regards to utilization

2 - send a CMRR letter to the lender asking them to update the credit report, as it current tells your other creditors you owe xx amount in money, when in reality you xx.

3 - unfortunately, you can't make them update.   If they refuse, or just don't do it, then file a complaint with the BBB and explain the inaccurate reporting is hurting your FICO score and potentially damaging your credit relationship with other creditors.

4 - if nothing is resolved through BBB, then dispute directly with the CB.

[Anonymous]

striders,

Have you entered a dispute on the reported balance with the CRA's?

[striders]

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@IOBA wrote:
 

2 - send a CMRR letter to the lender asking them to update the credit report, as it current tells your other creditors you owe xx amount in money, when in reality you xx.

4 - if nothing is resolved through BBB, then dispute directly with the CB.

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What is CMRR? FYI, I did contact them via email and phone calls for almost 6 months now, but they haven't done anything.

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IOBA wrote:   

4 - if nothing is resolved through BBB, then dispute directly with the CB.

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@Anonymous wrote:

striders,

Have you entered a dispute on the reported balance with the CRA's?

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This is an excellent suggestions! I just files ANOTHER complain with Prosper. If they don't response, I file a dispute with the CRA and see how it goes. I will update this thread soon.

[IOBA]

CMRR - certified mail, return receipt.