     Shylock (Shylock) | Friday, August 18, 2000 - 10:05 am 
It's very difficult to say what effect having your loan reported as misc. consumer finance will have.
However it is easy to say that showing your balance higher than the original amount is harmful to your credit score. Quoting from Fair Isaac's website: "[Your score is affected by] How much of installment loan accounts is still owed, compared with the original loan amounts. For example, if you borrowed $10,000 to buy a car and you have paid back $2,000, you owe (with interest) more than 80% of the original loan. Paying down installment loans is a good sign that you are able and willing to manage and repay debt." |
