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Late on Student loan 5 years ago - Still impacting score?

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Anonymous
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Late on Student loan 5 years ago - Still impacting score?

I was late on a student loan 5 years ago for 4 months in a row and I owe under $500 now.  If I pay it off, will it stop impacting my score or will it still bring it down?
 
Thank you!
 
John
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