Stolen Bike List

Can a bike that was stolen, but paid off by the insurance be listed in adverse accts on my credit history???

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.

What exactly does it say?

At the time the loan was paid off, were you behind in payments? If you were, then that’s probably what is showing up.

If you owed more on the motorcycle then the insurance covered, e.g., you still owed $5000 but the value of the bike was only $4000 so that’s what the insurance paid, there would have still been a balance on the loan. If you didn’t pay it, then that’s what is showing up.

If you were current on your payments and the insurance paid off the loan, then file a dispute with the credit reporting agencies.

Bike check!

Eugene rides high on list of bike thefts.(Crime)(The nation’s big cities – and our much smaller one – suffer with the reality of thousands of stolen … article from: The Register-Guard (Eugene, OR) $5.95 This digital document is an article from The Register-Guard (Eugene, OR), published by Thomson Gale on June 15, 2006. The length of the article is 573 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle…