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What should I do?

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Anonymous
Not applicable

What should I do?

This is my car Loan

 

Date opened [?]

Sep, 2006 Date of last activity [?] Aug, 2007 Date of last payment [?] Jul, 2007 Account number [?] XXXXXX Account type [?] Auto Loan Credit limit [?] Not Reported *not showing*  Terms [?] 42 Months Credit Type [?] Installment Account holder [?] Joint Account Scheduled payment amount [?] $395
 
Negative on my Experian says:
 
The remaining balance on your non-mortgage installment loans is too high.
 
this means that they are not showing the total amount lended to me, this negative
On my Equifax is showing the limit and it not a negative there.
 
My Equifax says:
Date opened [?] Sep, 2006 Date of last activity [?] Aug, 2007 Account number [?] XXXXXX Largest past balance [?] $16,598 *See right here* Credit Type [?] Installment Account holder [?] Joint Scheduled payment amount [?] $395 Descriptions [?]
  • Auto

 

My TU is showing the balance too.....

This is not right!!! What should I do?? I called the auto company and they say they report right every month. Should  I call Experian?

Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: What should I do?

Anyone?
Message 2 of 10
Anonymous
Not applicable

Re: What should I do?

Formulate your question properly so that we can understand.
Message 3 of 10
MidnightVoice
Super Contributor

Re: What should I do?

What is not right?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 4 of 10
Anonymous
Not applicable

Re: What should I do?

we need to know what is on your CR  not what shows on monitoring service. Everyone has different services & do not know what you are saying.
 
 
Message 5 of 10
fused
Moderator Emeritus

Re: What should I do?



Redamagon wrote:

This is my car Loan

 

Date opened [?]

Sep, 2006 Date of last activity [?] Aug, 2007 Date of last payment [?] Jul, 2007 Account number [?] XXXXXX Account type [?] Auto Loan Credit limit [?] Not Reported *not showing*  Terms [?] 42 Months Credit Type [?] Installment Account holder [?] Joint Account Scheduled payment amount [?] $395
 
Negative on my Experian says:
 
The remaining balance on your non-mortgage installment loans is too high.
 
this means that they are not showing the total amount lended to me, this negative
On my Equifax is showing the limit and it not a negative there.
 
My Equifax says:
Date opened [?] Sep, 2006 Date of last activity [?] Aug, 2007 Account number [?] XXXXXX Largest past balance [?] $16,598 *See right here* Credit Type [?] Installment Account holder [?] Joint Scheduled payment amount [?] $395 Descriptions [?]
  • Auto

 

My TU is showing the balance too.....

This is not right!!! What should I do?? I called the auto company and they say they report right every month. Should  I call Experian?



IGNORE IT! Installment accounts and balances carry far less weight than revolving ones.


Message Edited by fused111 on 09-14-2007 11:12 AM
Message 6 of 10
Anonymous
Not applicable

Re: What should I do?

Ok,
 
         My problem is that on my Experian report is not showing the total amount that I own on my auto fincance, and only what the remain balance. Therefore, they are saying that the auto account have  a high balance. What should I do? Should I call Experian? The company that I finance with says that they report correctly every month. Is it a MyFico mistake? I am sort of confused here.


Message Edited by Redamagon on 09-15-2007 01:18 PM
Message 7 of 10
Anonymous
Not applicable

Re: What should I do?

Fused111,
 
 
                   IF ignore it, don't you think when I apply for a loan that company could say that I have a high usage account? I am trying to get a business loan and a personal loan and I am waiting for my credit score to be around 710 or something like that. So, if they are saying "The remaining balance on your non-mortgage installment loans is too high." I think it is affecting my score.
Message 8 of 10
fused
Moderator Emeritus

Re: What should I do?



Redamagon wrote:
Fused111,
 
 
                   IF ignore it, don't you think when I apply for a loan that company could say that I have a high usage account? I am trying to get a business loan and a personal loan and I am waiting for my credit score to be around 710 or something like that. So, if they are saying "The remaining balance on your non-mortgage installment loans is too high." I think it is affecting my score.


I say no! FICO, TC and all of the rest will always try and find something negative. Case in point, my EQ score is now 755 (very prime) and FICO still gives me a negative reason code...a new account. I laugh at that. Believe me it's much better to owe 24K on a 25K loan compared to 24K on a 25K CC...it's not even close. I hardly think this loan is really hurting your scores.

Message 9 of 10
Anonymous
Not applicable

Re: What should I do?

Thanks fused111
Message 10 of 10
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