Legal Question in Credit and Debt Law in Illinois

failure to reprot positive credit

We purchased two cars from a dealership and we were told that this would be the best way to get a positive mark on our credit report. We paid off both cars (over $10,00.00)

in less time than required and when we asked about reporting it to the credit bureau, they said that they don't do that any more. We are not very happy and we were wondering if there is any recourse.


Asked on 4/07/05, 1:15 pm

1 Answer from Attorneys
Kevin Plachta The Law Office of Kevin F. Plachta

Re: failure to reprot positive credit

The first thing you should do is to pull a copy of your credit report. There is now a law which became effective March 1 which allows you to get one free credit report per year from each of the three major credit agencies and this can be done via the internet.

If this was a dealer financed loan then it is possible that the dealer does not report to the credit agencies. Remember there is no law which says a credit grantor has to report to a credit agency. Again, pull your report and see what it shows. If it shows the loan then the dealer has the obligation to show the loan was paid, but if the loan does not show on the report then there is no obligation and there is no recourse for you.

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Answered on 4/07/05, 2:11 pm


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