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How long until refinanced car loan reports as "closed?"

gemini1
New Contributor

How long until refinanced car loan reports as "closed?"

I took a look at all 3 of my credit reports today and saw my old car loan (from Ally) still shows as "open," even though I refinanced my car in January. The new loan is reporting and the old account has stopped reporting a balance (see attachments below but scratched out the balance) since then, however. So basically I have 2 auto loans reporting as "open," inflating my DTI ratio.

 

Is this normal? How long should I wait until I should dispute it with the CRA's that the account is closed if not?

 

Thanks for your insight! Smiley Happy

 

Edit: title

Car refin image.JPG

 

Car refin image 2.JPG



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Message 1 of 3
2 REPLIES 2
M_Smart007
Epic Contributor

Re: How long until refinanced car loan reports as "closed?"

 

@gemini1  .. I would call Ally long before opening a dispute.

 

 

 




Message 2 of 3
Iusedtolurk
Established Contributor

Re: How long until refinanced car loan reports as "closed?"


@M_Smart007 wrote:

 

@gemini1  .. I would call Ally long before opening a dispute.

 

 

 


Agreed. I would definitely call Ally especially since all 3 credit bureaus still have it showing open which seems to suggest that the failure to show the proper status is on Allys end.

Message 3 of 3
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