Hello,
Sorry if this has already been asked in the past.. I wasn't able to find anything through the searches and this is my first post..
I just had a general question that I'm hoping one of you will be able to give insight on.. I had a 39 month lease with Ally Financial that was initiated in December/2013. After about a year, I got tired of that car and it's monthly recalls and rather than paying a termination fee, I transferred it (successfully and with no hiccups) to someone else and have since initiated a new lease with Mercedes-Benz Financial. My balance at the time of the transfer was $5,684, never had any late payments and is now reporting as $0/paid as agreed/closed with all of the bureaus. Naturally, because my outstanding debt was reduced by this amount, I expected my score to go up a little bit.. instead, my scores are dropping by about 8-10 points across the bureaus as these "changes" are posting.
Any thoughts? Thanks in advance.
