Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
bmh716

0 Contributions
0 People Helped
how long after my auto loan is paid off does it appear as paid off on credit report

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
12 Contributions
45 People Helped

Usually within a Month

Usually, a bank loan will report to the bureaus at the end of the month. I work for a financial institution - and at the end of every month is when they send in their updates to the bureaus. If it still is not showing as Paid off after say, a month and a half after your last payment is posted - then you might have to write the lender to make sure it is marked correctly. And yes, Write - don't call. Written disputes - Personally written by you and not any sort of credit fix company, are the only thing that then puts in motion a series of benchmarks that the lender has to ensure get done within a 30 day period from when you write per federal regulations, which in this case would be correcting their reporting to indicate the account is closed. While some lenders will treat Verbal requests the same way, they are not required to. (I did Quality Control on Credit disputes at my employer for a year and a half after the new rules went into effect. Accounts not showing as paid off or closed was usually just because one indicator in the program that is used to maintain the loan didn't register correctly) 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.