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Posted in Auto Loans
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yankeewm324

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Auto loan from Wells Fargo
This car was paid for a year ago last November. Yet Credit Karma still has it listed as a car loan. How come? I am beginning to think I wasted my time signing up for this free credit report.

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it will show up for 7 years

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All your credit info for the last 7-10 years will show up on your credit report.  Its part of your credit history that lenders use to determine if your are "Credit Worthy".  If it was paid then it should show up as "closed, paid as aggreed" or something similar.  If it is still showing as an open account then it's most likely a "file maintainance error" meaning someone didn't update your info.  It happens a lot when you pay off an account, because they no longer are making money off of you, They stop reporting anything, So the credit bureau never gets the info that the account was paid.  If this is the case you can file a dispute directly with the Credit Bureau.  That will cause the Credit Bureas to investigate and correct the info.  

This is exactly why Credit Karma is so important, So you see these types of mistakes and have the chance to correct them,  Over 25% of Credit Reports have mistakes on them. Better to find out now rather than when your trying to buy a new car or house and having to deal with it then....  It can take 30-45 days for the info to get corrected once you contact the Credit Bureau, 

Good luck 

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Remember it's Transunion and Equifax not CreditKarma that is reporting your credit profiles.

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