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Aug 23, 2017
4:11:06pm

valleus Walk-on

Update

So it seems toyota financial just applied the lump sum payment to the next 46 months of payments and says my next payment is due in 47 months. They did not reamortize. I wonder if my account gets reported as paid/"good" to credit bureaus for the next 46 months?

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valleus

Bio page: valleus
Joined: Feb 1, 2017
Last login: Apr 27, 2024
Total posts: 9,410 (2,183 FO)

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Messages

Author

Time

Financing/credit score question

valleus

8/21/17 5:24pm

I think you still need to make the 'minimum payment' each month even if you make

rggee

8/21/17 5:27pm

correct, but you'd only have a couple of months of remaining payments to make

scottpete

8/21/17 6:50pm

Check to see whether you must still make your same monthly payment

Tricky

8/21/17 5:27pm

Mine did.

Bert609

8/21/17 5:46pm

It wont work out like you think it will. Your monthly payment is ~$560. So you

BYUinTX

8/21/17 5:29pm

I think you are correct. They won't re-amortize it. But it won't matter

Negative Equity

8/21/17 5:47pm

Not sure it will help that much more than having a fully paid credit account.

boogers

8/21/17 5:31pm

That should work

Negative Equity

8/21/17 5:35pm

Or you could invest the $24k in Bitcoin Cash, and make standard payments

AF Cougar

8/21/17 5:40pm

What is your available credit?

Bert609

8/21/17 5:41pm

I don't know... I'm in the 800s and I only have 2 credit cards...

Hotty-Toddy-Reb

8/21/17 6:06pm

Jealous. One day, I want to join the 800 club.

Bert609

8/21/17 6:08pm

Yes. Combined I'm over 25k on those 2 cards.

Hotty-Toddy-Reb

8/21/17 6:44pm

RE: Yes. Combined I'm over 25k on those 2 cards.

valleus

8/21/17 7:30pm

I've got USAA as well. No idea what my credit limit is though.

colton

8/21/17 9:42pm

Doubt that's it. I only have two credit cards and am in the 800's

colton

8/21/17 9:41pm

Thanks

valleus

8/21/17 5:41pm

You don't need to do anything else to qualify for a mortgage. If your mortgage

Pick-Six Coug

8/21/17 6:08pm

Thanks, good to know

valleus

8/21/17 7:29pm

Update

valleus

8/23/17 4:11pm

Make sure the interest accrual is correct. Probably is tho'

boogers

8/23/17 5:01pm

Yes it reports as you suspect EXCEPT in the field where it states date of last

Pick-Six Coug

8/23/17 6:11pm

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