I ask this question because I have an old auto loan that has been paid off for over a year now, in the past I have been late but rather the status read paid, it has not more than three payments past due. it's not past due it is paid off, should I contact the CRA to correct that?
Please advise...thanks!
@New_Beginning wrote:I ask this question because I have an old auto loan that has been paid off for over a year now, in the past I have been late but rather the status read paid, it has not more than three payments past due. it's not past due it is paid off, should I contact the CRA to correct that?
Please advise...thanks!
I'm having a little difficulty understanding your question, primarily because of your second sentence. But it soulds like you are saying that you have a paid auto loan that has three lates. If it indicates those lates (30, 60, 90, 120) with a zero balance it is reporting correctly.
You can attempt to GW those lates. Late payments hurt your score and stay on you CR for seven years. 30-day lates may only really hurt for the first year or two, but anything else is a major derogatory and will hurt the full seven years.
If you can give us some more information about those lates (when they occurred and how late) we might be ablt to be more helpful.
Starting Score: TU 672 EQ 654 10/20/09
@DrJim wrote:
@New_Beginning wrote:I ask this question because I have an old auto loan that has been paid off for over a year now, in the past I have been late but rather the status read paid, it has not more than three payments past due. it's not past due it is paid off, should I contact the CRA to correct that?
Please advise...thanks!
I'm having a little difficulty understanding your question, primarily because of your second sentence. But it soulds like you are saying that you have a paid auto loan that has three lates. If it indicates those lates (30, 60, 90, 120) with a zero balance it is reporting correctly.
You can attempt to GW those lates. Late payments hurt your score and stay on you CR for seven years. 30-day lates may only really hurt for the first year or two, but anything else is a major derogatory and will hurt the full seven years.
If you can give us some more information about those lates (when they occurred and how late) we might be ablt to be more helpful.
Yes that is actually what I am saying the car loan is paid off with a zero balance but the status reads not more than three payments past due. Is that reading as if it is still owed not paid off?