I got one of those furniture store deals where there is no interest for 6 months if you pay in full. It was through the furniture store and I did not really think about it being with a small loan company (my pre creditnet days). Household reported each month when the loan was open. Payments were about $400 per month. They quit reporting it before the last payment, so my credit reports show it as $400 balance, last reported 6-01. It is a positive account. Is there any problem with this reporting this way? Should I get them to report it as paid off? If so, how do I do it? They sent me a letter a year ago verifying that it was paid in full, so that is not a problem. I jsut wonder if it hurts me at all having a finance company loan with an unpaid balance.
The only thing that is hurting you is the finance company tradeline showing a balance (probably a couple points, but nothing significant). Contact the creditor and ask them to update your tradeline showing a balance of $0. It will probably take 14-30 days. Household does this to me all the time. Dani
Thanks. They like me - they send me a check every few weeks and tell me to just sign it and deposit it into my account. They would treat it as a loan. I learned my lesson with them.
