I have a paid off, 3 year auto loan with a perfect payment history. Not even one single 30 day late payment. The Current Status is "pays as agreed".
Unfortunately, I've had a lot of trouble with this company concerning my credit report. They have reported things that aren't even internally consistent. For instance, my report went from on time one month to 120 days late, in repossession the very next month. Then kept that status for 3 months, when it went right back to on time.
First off, you cannot go from on time to 120 days late in a 30 day period. Secondly, no auto stays in repo for 120 days plus 2 more months. Finally, the month by month payment history showed every single payment as on time!
That was only the most ridiculous thing they reported. There were several other incidents, like reporting Current Status as 60 days late, again with a perfect month by month payment history.
Now the thing is all paid off, and MOST of the nonsense has been corrected. There is, however, one thing left.
There is a perfect 36 month month by month payment history, the number of 30 day lates is zero, 60 day lates is zero, and 90 day lates is zero. The balance is zero. The Status is pays as agreed. BUT...
In the Remarks section, it says "Creditor's Statement: Redeemed Repossession".
Equifax will not remove this based on the fact that it is obviously not even possible when the rest of the entry is read. I cannot get the loan company to remove it.
Is this hurting my FICO score? Does FICO, or do the proprietary scoring systems many companies use instead of relying on FICO scores, even "see" something like this that is in the remarks?
I'm not worried about a human seeing it. The entire entry shows that it could not possibly have been a repo, there was never a single late payment from day 1 to the end of the loan. If a human is evaluating me, he will see this. What I'm worried about are computerized scoring systems.
