My SUV was Totaled Out And My Loan Company Flagged My Credit For 120 Days Late Payment

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Ask for proof of the account. Additionally, the computer thing may be true for the individual rep but is not true for the company as a whole.


Have you since tried calling them back to let them know that it’s reported “correctly” when they clearly admitted it being a mistake?


Contact your whoever provides your GAP insurance and ask for certified proof of payment. If the sent a check, they can provide proof of when check was cashed and to whom. If they did a transfer/wire, they can provide proof as well. Contact Experian showing with your proof that you made payments in January and February (which means there’s no way you were 120 days late in May) and then with the proof from the insurance company that the note was paid off in March. Also contact the finance company and try to get something in writing to the effect of when your account was paid in full and provide that to Experian as well.


If the they’re saying you had a 120 day late payment two months after the account closed, then they’re saying you didn’t make payment in February, March, April and may. However, youre saying you made payments in February and March and the account was closed (therefore no payments in April and may). It sucks they initially told experian that they had reported correctly, but I think you need to dispute and provide proof of payment to experian for your February and March payment.


Dispute the item on your credit report. This will cause the financial institution to review the item and correct their mistake by reporting back the correct information. Additionally, a CFPB complaint can be filed as well. I would personally do both. This is the process established for resolving these issues in the FI that I work for.