Rebuilding Your Credit

[groovy27]

We have had several personal loans over the years with the same loan co (Citifinancial) where we have refinanced, and they are all showing as separate trade lines on our credit reports.  They are all showing "OK" status- is it better to leave them up there or try to have them removed if they are over 7 years old?

[guiness56]

Accounts that closed in good standing will stay for up to 10 years.

When you refinance a loan they will normally report as a new one with the old one showing paid and closed.

[Gunnar419]

If the accounts were in good order when closed, then it's to your benefit to have them there. Closed accounts in good order should stay on for 10 years.

[Gunnar419]

Sorry, guiness! Replied at the same time you did -- only seconds too slow!

[Shogun]

+1

You would want these to stay on your CR.  They are positive TLs that will add to your AAoA.

[groovy27]

Thank you! Just wanted to make sure they were helping and not hurting! I need all the help I can get!