Wells Fargo Auto Finance

[Anonymous]

I'm not sure where to ask this, so if this is in the wrong spot, my apologies.

I had a loan with Wells fargo Auto Finance back in 2006. It was paid in full in May of 2012, but it's still on my credit report, showing the few late payments I had back then, etc.

I just realized it was on there. I had no idea. My scores have gotten significantly better over the last few months. 4-6 months ago they were like a 530. Now they are all 3 670ish. I am wondering though if that is keeping my scores down??

Should that be off of my report by now? A loan that is just a tad over 10 years old?? It was opened in January 2006.

Any help on what to do regarding this would be appreciated!

[surferchris]

Since it was an account in good standing, it could stay on your account for 10 years or longer...

You did not specify hwenthe lates were (in 2006 or just before 2012)...

But in all likelihood, depending on the flavor of FICO, the lates probably are not affecting you any more.

Hope this helps.

[Anonymous]

The account is now over 10 years old. It was opened in january of 2006. Paid off in May of 2012. When does that 10 year clock start?? I'd like this off of my credit.

[surferchris]

I apologize, but I just want to be clear on what I am understanding...is the account showing paid satisfactorily or paid charge off?

[Anonymous]

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@Anonymous wrote:

The account is now over 10 years old. It was opened in january of 2006. Paid off in May of 2012. When does that 10 year clock start?? I'd like this off of my credit.

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The individual lates will become excluded as each one ages past 7 years. The account itself will generally remain for ten years past the date it was paid and closed. Just be patient, this will soon become a positive account and remain so until 2022.

[surferchris]

Agreed...