03-30-2013 09:14 PM
I have an old auto loan with Ally. After having perfect pay history for the loan, hit a rough patch and the last year was a string of 30 day lates. The last payment was actually CO (has since been paid). They CO it off too soon though, they had sent a letter saying the last payment had to be made by a certain date or it would bo CO but they ended up COing it off a week early. Anyway I was preparing to start cleaning up my reports and pulled them today and I see that Ally has changed the reporting to IIB/discharged. I did have a CH7 about 7 years ago and this loan was reaffirmed, not dicharged.
I have no way of knowing what effect this had on my score because I have'nt bought my score in close to a year and want to hold off another 2-3 weeks before buying it again. It seems to me like this is a good thing though? To have a paid CO with a string of lates change to discharged in BK. Should I let it stay like it is or fight it? Thoughs?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO