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Posted in Auto Loans
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GrandaddyGreg

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Toyota closed account balance corrected from $1366 to $0. Score dropped by 91 points. What can I do?
I paid off $1366 that I owed to my Toyota account in April 2016. The account had gone to collections, but I paid in full rather than settling, and I paid directly to Toyota. I was upset with the dealer for extra charges after returning the leased car, and tried to fight it but nothing came of that.

A few months after paying in full, I noticed that the correction on my credit report was never made, so I wrote to Toyota Financial to have them correct it. I log into Credit Karma today to see that the balance was updated to $0, with my last payment being made in April 2016. I thought that would increase my credit score.

According to Credit Karma, my TransUnion Score dropped by 91 points, and my Experian Score went up by 31.

How is this possible??? I've worked so hard for the past year to get my Transunion score from 550 to above 700, which I finally accomplished last month. Now this happens, and a years worth of effort have been lost.

How is this possible and what can I do to correct it?

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Another detail

I forgot to mention that the following was added in the Notes of my Toyota account:

Payment after charge off/collection

Dispute resolved; customer disagrees

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