Can a bike that was stolen, but paid off by the insurance be listed in adverse accts on my credit history?
by admin ~ April 13th, 2007 . Filed under: Credit .
HL asked:
I just got my annual free credit report. Last year my motorcycle was stolen. The loan was paid in full by my insurance. Now the loan shows up as an adverse account. Can they list it as a bad account even though it was paid in full by the insurance company???
Thanks for all the answers so far. Some details: I continued payments while the insurance worked on the claim. After 50 days the insurance paid everything except about $700.00. Then GAP kicked in . They gave me the runaround but I continued paying from the Harley Credit statements. After I threatened GAP with a lawyer they paid and I actually received a refund for an overpayment. On the credit report the account is listed under the adverse account section with a remark ” paid by insurance”. No late payments are listed on the account and the balance is zero and past due is zero. Pay Status shows as paid.
Sanford Skrocki
I just got my annual free credit report. Last year my motorcycle was stolen. The loan was paid in full by my insurance. Now the loan shows up as an adverse account. Can they list it as a bad account even though it was paid in full by the insurance company???
Thanks for all the answers so far. Some details: I continued payments while the insurance worked on the claim. After 50 days the insurance paid everything except about $700.00. Then GAP kicked in . They gave me the runaround but I continued paying from the Harley Credit statements. After I threatened GAP with a lawyer they paid and I actually received a refund for an overpayment. On the credit report the account is listed under the adverse account section with a remark ” paid by insurance”. No late payments are listed on the account and the balance is zero and past due is zero. Pay Status shows as paid.
Sanford Skrocki
