Confused by reporting dates

[Anonymous]

I have a auto loan on my credit reports, was paid off in full in August 2015.  On my Experian and and TransUnion reports the loan shows as paid and closed with a $0 balance and was last reported in August 2015. On my Equifax report it shows that the loan is paid and closed with a $0 balance but it last reported in February 2019.

I am confused by this, why is a closed loan that is paid in full still reporting 3 1/2 years after it was closed. This loan was closed because I paid the vehicle off, it was never in collections and was not repossessed, I simple made all of my payments until it was paid in full.

[DIYcredit]

It's probably a reporting error.As long as it's a positive account  in good standing you shouldn't dispute it based on accuracy even though you have the right.If you dispute it the lender might remove it from your cr's and you will loose all the positive payment history and it will not be calculated into aaoa or aooa.When it's gone it's gone.

[gdale6]

Sometimes it happens, in good accounts its not something to worry about.

[Anonymous]

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@gdale6 wrote:
Sometimes it happens, in good accounts its not something to worry about.

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It is a good account because it shows 5 years of payment history and it never went to collections and it never was a chargeback account. However, there are a lot, I mean a lot of late payments on the account (22 in total). Long story short, I was unaware that I missed a payment which happened when I first started going through my divorce and for almost two years I made my payment every month and on time. One day I happen to answer a call from a toll free number which I never do and it was the lender informing me of my oversite. I made up for the missed payment that day but the damage had already been done. The vehicle was completely paid off in full a few months later and the lender closed the account as paid in full with a $0 balance.

I have noticed and have been curious why my Fico score on this one report is 20 points lower than the other two. This could be the cause or it could be something entirely different.

[MakingProgress]

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@Anonymous wrote:

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@gdale6 wrote:
Sometimes it happens, in good accounts its not something to worry about.

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It is a good account because it shows 5 years of payment history and it never went to collections and it never was a chargeback account. However, there are a lot, I mean a lot of late payments on the account (22 in total). Long story short, I was unaware that I missed a payment which happened when I first started going through my divorce and for almost two years I made my payment every month and on time. One day I happen to answer a call from a toll free number which I never do and it was the lender informing me of my oversite. I made up for the missed payment that day but the damage had already been done. The vehicle was completely paid off in full a few months later and the lender closed the account as paid in full with a $0 balance.

I have noticed and have been curious why my Fico score on this one report is 20 points lower than the other two. This could be the cause or it could be something entirely different.

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Just because they reported the same information it will not change our score.   If they reported something different it might change your score.  From what you have said it sounds like the only change was the date of the last update, that has no effect on your FICO. 

[Anonymous]

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@MakingProgress wrote:

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@Anonymous wrote:

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@gdale6 wrote:
Sometimes it happens, in good accounts its not something to worry about.

---

It is a good account because it shows 5 years of payment history and it never went to collections and it never was a chargeback account. However, there are a lot, I mean a lot of late payments on the account (22 in total). Long story short, I was unaware that I missed a payment which happened when I first started going through my divorce and for almost two years I made my payment every month and on time. One day I happen to answer a call from a toll free number which I never do and it was the lender informing me of my oversite. I made up for the missed payment that day but the damage had already been done. The vehicle was completely paid off in full a few months later and the lender closed the account as paid in full with a $0 balance.

I have noticed and have been curious why my Fico score on this one report is 20 points lower than the other two. This could be the cause or it could be something entirely different.

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Just because they reported the same information it will not change our score.   If they reported something different it might change your score.  From what you have said it sounds like the only change was the date of the last update, that has no effect on your FICO. 

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Thank you!

It was bugging me that my Fico score for that agency is so much lower than the other two who only have a 1 point difference. The only real difference I could find was that last reported date of that one tradeline.

[FlaDude]

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@Anonymous wrote:

.

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It is a good account because it shows 5 years of payment history and it never went to collections and it never was a chargeback account. However, there are a lot, I mean a lot of late payments on the account (22 in total). Long story short, I was unaware that I missed a payment which happened when I first started going through my divorce and for almost two years I made my payment every month and on time. One day I happen to answer a call from a toll free number which I never do and it was the lender informing me of my oversite. I made up for the missed payment that day but the damage had already been done.

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Late payments are only reported if they are over 30 days, have you checked your report to see if you actually have any lates reported? I would expect a lot bigger hit than 20 points if you have 22 reported late payments.