creditor is no longer in business... how to correct an issue?

[Anonymous]

On my report, there's a loan which has been paid off.  But it is also showing that I'm making payments of about $1,700/month.    When I apply for new loans, the creditors assume I'm still making that payment and it affects my ability to borrow.    I called the number of the creditor on the report but that number is disconnected.   I'd like to keep the loan amount  and payment record on the report since it is all positive.   I'm afraid if I contact the credit bureaus to ask to delete the payment amount, they'll just delete the whole entry.  And that would hurt my credit.  Any advice?

[RobertEG]

File a dispute with the CRA, with the disputed item being ONLY the payment amount.

Provide the CRA evidence that the account is paid.

The CRA only considers the accuracy of the information under dispute, and can correct using their reinvestigation authority.