How to dispute this?

[Tierra399]

In February 2015 my car was totaled, thankfully we had gap insurance. We received confirmation that the gap insurance covered the car and the car loan account was closed.  After checking our credit the account is showing still open and every month is showing no payment/late payment. Is there a way to dispute this to where it shows the account is closed and take off all those payments that are showing not received/late? We are a couple months away from trying to apply for a mortgage and I'm terrifed this will prevent us from being approved.

[RobertEG]

You can either file a direct dispute with the creditor or send a dispute to the CRA and let them handle forwarding to the creditor.

The status of the account as open or closed does not itself preclude continued reporing of the account as delinquent.

Your issue is apparently that the insuror paid off the loan, thus discharging the debt, however the creditor continued to show a debt balance and delinquency in its payment?

When did the insuror pay off the loan?

[Tierra399]

We received the confirmation February 23rd, 2015. May I ask what does CRA stand for?

[azguy13]

CRA means credit reporting agency

[RobertEG]

Credit reporting agency (Equifax, Experian, TransUnion).

Then once the loan was paid,there was no longer a debt upon which to report any delinquency.

Are they reporting actual, monthly delinquencies after the debt was discharged?

[Tierra399]

Yes it is showing as if we still owe a monthly payment.

[Anonymous]

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@Tierra399 wrote:
Yes it is showing as if we still owe a monthly payment.

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Where are you viewing your reports? Are all three reports showing the same thing?

[Tierra399]

I purchased the 3B product from here on myfico. This is what I'm looking at.

STATUS DATE Nov, 2015 Nov, 2015 Nov, 2015 CONDITION Open Open Open LAST ACTIVITY Jan, 2015 Apr, 2015 Not Available BALANCE $139 $139 $139 STATUS Charge-off Charged off as bad debt Unpaid balance reported as a loss by credit grantor  

History

LATE 30 DAYS 1 time (Feb 2015) 0 times 1 time (Mar 2015) LATE 60 DAYS 1 time (Mar 2015) 0 times 0 times LATE 90 PLUS DAYS 7 times (Oct 2015, Sep 2015, Aug 2015, Jul 2015, Jun 2015, May 2015, Apr 2015) 0 times 8 times (Nov 2015, Oct 2015, Sep 2015, Aug 2015, Jul 2015, Jun 2015, May 2015, Apr 2015) WORST DELINQUENCY 90 days past due None Reported Collection

[RobertEG]

Is it showing the amount of your monthly payment, or actually reporting a delinquency in your payment history profile?

[Tierra399]

It's reporting a delinquency in the payment history.