I got an auto loan with GM financial in November 2017. When I checked my credit in the beginning of this March
I noticed GM financial had not updated my balance or payment history. I disputed the account and I just received the
results. They have updated the balance but not the payment history. I am referencing that part of the account on the credit report where there are ok's next to each month you made a payment. The account does say current should I dispute again to get them to show where I made my monthly payments?
I have a terrible rate also with GM financial, I wonder is it a ploy to prevent consumers with challenged credit from getting
there credit on track so they cant refinanced from there terrible rates.
Following is a complete listing of the codes provided by the CRAs in their reporting manual, the Credit Reporting REsource Guide, for reporting of a monthly payment history profile, with D used to designate no data available:
0 = 0 payments past due (current account)
1 = 30 - 59 days past due date
2 = 60 - 89 days past due date
3 = 90 - 119 days past due date
4 = 120 - 149 days past due date
5 = 150 - 179 days past due date
6 = 180 or more days past due date
B = No payment history available prior to this time – either because the account was not open or because the payment history cannot be furnished. A “B” may not be embedded within other values.
D = No payment history available this month. “D” may be embedded in the payment pattern.
E = Zero balance and current account
(Applies to Credit Cards and Lines of Credit)
G = Collection
H = Foreclosure Completed
J = Voluntary Surrender
K = Repossession
L = Charge-off
Same here, they haven't updated in almost five months and I got this reply from GMFINANCIAL today.
"Credit reporting was turned off due to system issues from when our systems were updating in January. I'm happy to let you know that we are finally resuming credit reporting as of May 7th. Your credit report should update in the next 30 to 45 days."
Not sure if this was answered. There were issues with their site and as they were updating they did not report to the credit bureaus. About a month ago, received notice from they they had resolved whatever issues and would adjust any negative reports (if due to their system issues). They did not address the on time payment reporting.