I leased a new car in early April and had them pay off the previous lease with Hyundai Financial and roll the payments into my new lease. My Hyundai had a balance of $2200 and a disposition fee of $400, and the dealership paid that. I looked at my credit today, and it dropped 12 points. I noticed it says "Early termination; balance owing" and on another report it just says "closed, Early Termination" I do owe $130 for wear and tear. According to Hyundai, they closed the account last week, and sent me a bill for $130, it isn't due yet, I have 30 days. I will pay it, of course. So, I have a few questions. It does show the account is in good standing, it is green across the board.
1-Will the note change to close, or paid after I pay the $130 and that is reported? Is this note considered a negative item? I don't want a future lender to assume it was because I didn't pay and had a repo or anything.
2-Is that what is effecting my score? Or is it because I have one less account open? Even though my installment balance dropped be $2k?
3-If they can't change the note, can I dispute the note after I pay the $130?
