Hey folks: I have an installment loan with Toyota Motor Credit that was paid off in 1996. It isn't a collection account and I paid it off when due but I had a hard 3 month period in the middle of the loan. Equifax shows it as an I3 and I really feel that since it is paid off, it should show as an I1. I disputed the late dates and they were verified. Does the FCRA speak on this issue? Any advice? As always, I appreciate your comments.
If a bank account with lates is reporting R1, is this considered good even with the lates, or does it still hurt your FICO? Accounts are 2 years and older. Thanks, MikeB
Re: I3 But doesn't an I1 status mean never late paid as agreed? Even though you piad in full you still paid late, so therfore I3 would be a correct reflection of how you paid the loan, right?
