You should try to contact the lender by phone first. If that does not work, you can send them a letter requesting that they update the information. Filing a dispute through the credit reporting agencies should be a matter of last resort. Keep in mind, though, that paying off a car loan generally does cause credit scores to dip initially, and the bounce back can take up to a few months.
How do I get a paid-off car loan removed from my credit report?Answered by Car Loans Expert Johnny on January 28, 2021
I paid off my car loan months ago, but the full initial balance is still showing on my credit report. How do I remove the balance from my report?
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