Author Topic: PSA: Totalled auto lease can affect your credit score  (Read 3860 times)

Offline abe2np

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #15 on: January 19, 2020, 12:27:57 PM »
Maybe
I just checked an EX credit report with a lease that was totaled, it comes up as: EARLY TERMINATION/BALANCE OWING; AUTO LEASE  ....  PAID

@Euclid Maybe you can convince CreditBureauC to change the wording to what @shapsam has on his?
« Last Edit: November 15, 2020, 01:51:57 PM by Dan »

Offline dz164

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #16 on: January 19, 2020, 09:18:54 PM »
I had a (honda finance) lease totalled 2 years ago with no CR impact or designation other than "closed"

Don't understand the rationale for a negative on a CR - the loan was fully paid by the insurance.

Insurance claims / losses are in another set of databases

Live and learn i guess.

Online Euclid

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #17 on: January 19, 2020, 09:37:38 PM »
Maybe you can convince CreditBureauC to change the wording to what @shapsam has on his?
It's a blame game at this point - FICO says if it's on the credit report then I should speak to CreditBureauC; CreditBureauC says that since the bank reported this comment - the bank has to change it; and the bank says that they have no control over the credit report and should talk to CreditBureauC. Triangle of frustration.
« Last Edit: November 15, 2020, 02:05:59 PM by Dan »

Offline grodnoking

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #18 on: January 19, 2020, 10:16:30 PM »

It's a blame game at this point - FICO says if it's on the credit report then I should speak to CreditBureauC; CreditBureauC says that since the bank reported this comment - the bank has to change it; and the bank says that they have no control over the credit report and should talk to CreditBureauC. Triangle of frustration.
Get them all on the phone at once
« Last Edit: November 15, 2020, 01:53:49 PM by Dan »
I'm not who you think I am.

Online Euclid

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #19 on: August 25, 2020, 10:23:46 AM »
UPDATE:

I retained the services of Yaakov Saks (recommended by a DDF member); he opened a lawsuit against the bank, which then settled the lawsuit by 1) erasing the account from the credit bureaus and 2) paying the legal fees. My score has now (obviously) shot back up to the expected range.

Offline Dan

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #20 on: August 25, 2020, 10:55:39 AM »
UPDATE:

I retained the services of Yaakov Saks (recommended by a DDF member); he opened a lawsuit against the bank, which then settled the lawsuit by 1) erasing the account from the credit bureaus and 2) paying the legal fees. My score has now (obviously) shot back up to the expected range.
Wow!
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline KSMH

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #21 on: August 25, 2020, 11:04:10 AM »
UPDATE:

I retained the services of Yaakov Saks (recommended by a DDF member); he opened a lawsuit against the bank, which then settled the lawsuit by 1) erasing the account from the credit bureaus and 2) paying the legal fees. My score has now (obviously) shot back up to the expected range.
Amazing , thanx for posting.
Happy to see people not being afraid to take the lawsuit path.
Always praying for delayed baggage.

Offline Malachi

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #22 on: August 28, 2020, 10:47:06 AM »
UPDATE:

I retained the services of Yaakov Saks (recommended by a DDF member); he opened a lawsuit against the bank, which then settled the lawsuit by 1) erasing the account from the credit bureaus and 2) paying the legal fees. My score has now (obviously) shot back up to the expected range.

 Thanks for the info. I have an unrelated credit issue and I spoke to his partner. He is super knowledgeable and has great service.
Denny Crane

Offline Samb

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #23 on: August 28, 2020, 12:22:21 PM »
I recently had a client that had a Amex which had absolutely no late payments but in the remarks  it had a comment paying under partial payment agreement. Again this account has no late marks. Every single month is marked as paid as agreed. He has absolutely no other negative reporting. His score dropped by approx 150 points on the Fico 04 scoring model (pulled by mortgage broker) since this comment came on. Most remarks don’t effect your credit score but some do

Offline chevron

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #24 on: September 13, 2020, 02:47:21 PM »
My sugar was leased with Chase having the loan, it was totalled in an accident. ..

Progressive is paying pretty much the car's value but there is still 9 months left on the lease, chase has Gap coverage which is supposed to cover everything.

We shall see, it's been dragging on.. I have to keep paying chase on the car although they claim i'm going to get the money back

Offline Malachi

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #25 on: November 24, 2020, 06:09:16 PM »
Thanks for the info. I have an unrelated credit issue and I spoke to his partner. He is super knowledgeable and has great service.
Update: He was successful in fixing the issue, Highly recommended.
Denny Crane

Offline Yehuda25

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #26 on: December 01, 2020, 11:58:01 PM »
UPDATE:

I retained the services of Yaakov Saks (recommended by a DDF member); he opened a lawsuit against the bank, which then settled the lawsuit by 1) erasing the account from the credit bureaus and 2) paying the legal fees. My score has now (obviously) shot back up to the expected range.
congrats!
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Online Euclid

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Online Euclid

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Re: PSA: Totalled auto lease can affect your credit score
« Reply #28 on: February 21, 2021, 09:29:58 AM »