paid off car loan- leftover interest but they say "short payoff"

[silverflash]

North Carolina.


So I decided to payoff my car 3 years early and have been sending large lump payments over the past 2 months. The last two large payments the lender applied alot to interest and rest to principle and not to just principle as i preferred and wrote on the check digitally and it took a few phone calls to fix that. the final payoff was sent last thursday through online banking and was to be delivered the 10th of feb 2016. The check was was made out to what the payoff would be based on the lender charging $.45 a day if they received it on the day the bank said they would. The lender just credited my account 6 days later. The difference in what i sent and what interest would have accrued is roughly $2.00. Yes, 2 dollars. I checked and the last entry on the account says "Short payoff". The last payment I made was $5169.47 which was what the pay off would be if they credited the account last thursday or 2/11/2016.

I called them just now and they said balance is zero and I am good but i spoke with the 1st person I got. will this show up on my credit report as "settled" or some other negative remark?? I have really good credit now for past 10 years and don't need a negative mark because i wanted to pay off a loan early.


remember, i have never been late with a payment and i paid off way early.....I can afford another $2.00 if that prevents them from reporting a negative status of the account to the credit bureaus.

thanks!

 

[Zigner]

North Carolina.


So I decided to payoff my car 3 years early and have been sending large lump payments over the past 2 months. The last two large payments the lender applied alot to interest and rest to principle and not to just principle as i preferred and wrote on the check digitally and it took a few phone calls to fix that. the final payoff was sent last thursday through online banking and was to be delivered the 10th of feb 2016. The check was was made out to what the payoff would be based on the lender charging $.45 a day if they received it on the day the bank said they would. The lender just credited my account 6 days later. The difference in what i sent and what interest would have accrued is roughly $2.00. Yes, 2 dollars. I checked and the last entry on the account says "Short payoff". The last payment I made was $5169.47 which was what the pay off would be if they credited the account last thursday or 2/11/2016.

I called them just now and they said balance is zero and I am good but i spoke with the 1st person I got. will this show up on my credit report as "settled" or some other negative remark?? I have really good credit now for past 10 years and don't need a negative mark because i wanted to pay off a loan early.


remember, i have never been late with a payment and i paid off way early.....I can afford another $2.00 if that prevents them from reporting a negative status of the account to the credit bureaus.

thanks!

Huh? You paid it in full. They applied it late and then credited the $2.00 and used the phrase "short payoff" to note it. I think you're worrying over nothing.