Should I dispute my auto loan

[tooleman694]

My autoloan updated incorrectly after my chapter 13 discharge. It should show a zero balance, closed with no payment history from the time I filed. But suddenly it is now open, showing the correct balance with a years worth of perfect payment history. Got a nice FICO boost from it, but it is littered with a bunch of 30 and 60 day lates during the BK. I was actually never late, but because part of the balance was included in the 13 their system is calculating it late. I am afriad if I dispute it, they will just close and zero it out and take away all the good history. Dropping my score again.

[RobertEG]

Installment loans are not "closed" in the same manner as revolving accounts.

Creditors close revolving accounts, such as credit cards, in order to block the consumer from further increasing the principal amount of debt on the account, thus avoiding increased risk of additonal loss.  

Installment loans, however, have preset principal and interest amounts, and the consumer cannot unilaterally increase the debt by making further charges, so "closing" of the account does not have any practical bearing on the creditor.

CRA policy, as reflected in their standard credit reporting manual, instructs creditors to report closing of an installment loan only when the debt is paid, and not to provide a "closed" date prior to discharge of the debt.

I would not dispute the showing of Open for an installment loan with a remaining debt balance until the debt has been paid.

There should be no additional lates after the BK, so I would pursue a dispute to have those removed.