Too many accounts -- student loans

[Anonymous]

I have pretty good credit now, and one of the few remaining negs is that I have a ton of accounts listed.  The vast majority of these were from Stafford loans during college.  From 1997-2001 each semester (twice a year) there were 2 installment loans (one a subsidized stafford and one unsubsidized stafford loan) reported, each with a separate account.  This means 16 accounts over 4 years!  I consolidated all the accounts in 2001 which resulted in 2 additional installment loans and the original 16 accounts were all marked "Paid as agreed.  Transfered."  So now I have 18 accounts strictly for these Stafford Loans. 

Will the original 16 ever fall off my reports, or can I request they delete them?  The first ones from 1997 are still on there, which makes me worry they will never go away.  I am still paying off the 2 consolidated loans so I understand why they are there. 

Many thanks for any help!

[llecs]

You don't want them off your report! Chances are these are your oldest accounts. Removing them will drop your avg. age (AAoA) and your score will follow. Good accounts naturally age off 10 yrs after closure. Bad accounts drop off in 7.

[sleekblackroadster]

isn't it such that only negatively marked accounts have to be removed from the CR after ~7 years? so if your accounts are in good standing.. they should stay on the reports!

do not know about requesting to delete them. remember scores are usually not the only thing they take into account when applying for new credit or loans.. they will also look at the credit reports themselves. and they will not likely view these accounts as anything other than well managed credit on your part.

[Anonymous]

Ok thank you.  I was going to try to have them removed because the only negative on 2 of my reports was "Too Many Accounts".  They said because I had 30+ accounts I was higher risk, but I guess you are saying that this risk is probably outweighed by the benefit to the age of my credit history?

[llecs]

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setancre wrote:

Ok thank you.  I was going to try to have them removed because the only negative on 2 of my reports was "Too Many Accounts".  They said because I had 30+ accounts I was higher risk, but I guess you are saying that this risk is probably outweighed by the benefit to the age of my credit history?

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Bingo. Ignore it. And the consensus seems to be that the damage, alone by itself, is nil anyway. You'll just have to live with that annoying flag for a while longer.

[Anonymous]

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@llecs wrote:

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@Anonymous wrote:

Ok thank you.  I was going to try to have them removed because the only negative on 2 of my reports was "Too Many Accounts".  They said because I had 30+ accounts I was higher risk, but I guess you are saying that this risk is probably outweighed by the benefit to the age of my credit history?

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Bingo. Ignore it. And the consensus seems to be that the damage, alone by itself, is nil anyway. You'll just have to live with that annoying flag for a while longer.

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Lol.  Ok great, thank you.  The red flag has been bugging me!

[Anonymous]

That's the same problem I have...but the others are right.  It keeps my average age higher and shows  good history.  I think it will stay on 10 years from the date of the consolidation (since I think that is the date of last activity). 

[laz98]

i hate that i have so many student loans on my reports.  makes me feel like i have way more debt than i really do.