@Anonymous wrote:Wondering how this is even possible...have student loans and and two car loans (one lease one financed). Lease is 42% paid and loan was refinanced so I don't know if it's balance/original loan or balance/refinanced amount...but either way, more than 50% paid. Paid off a lending club loan 100% and I have one charged off loan from 4 years ago. I believe these are all considered non mortgage loans?
Just wondering how it's possible that i have a 0% paid principle on my non mortgage loans. It's one of the negative score factors obviously.
Is this an error?
The refinanced auto lease would be the balance/refinance amount used to calculate percentage paid.
The non-mortgage loans uses ALL non-mortgage loans to calculate percentage paid. So it's possible (other's should correct me if I'm wrong) that your charged off loan could be reporting a negative percentage paid (owe more now than Original loan -- interest and late fees accrued).
If you have student loans in deferment (that accrued interest before the current exemptions) that also could be showing a negative percentage paid.
For me, when I had my student loans in deferment and accruing interest they made it to me being 120% of balance remaining; which overruled my other non-mortgage loan that had 5% balance remaining.
Could my situation have been a fluke? Possibly. I do recall reading somewhere on this site or Google (can't remember off hand) other's saying one loan reporting over 100% owed would result in a 0% paid negative remark.
Which CMS are you using and/or who provided the 0% paid "negative reason"? (Might help other's in answering).
