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Member
deddy456
Posts: 9
Registered: ‎01-02-2008

Removing Installment Loans from my record

Ok, I own a chapter S corp.  As a result, when we buy vehicles, etc I am often the co-signor along with my company which has it's own tax id.  I have the opportunity to do a bank loan that will take all these vehicles under one note under only my company's Tax id, removing them from my record.  I will still have an installment loan on my record, just I will remove installment loans of around $100k.  Any idea of what this will do, impact it may have on my fico score?  Thank in advance.  I still really can;t figure out how much impact installment loans have on the score beyond they want you to have some of them.
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007

Re: Removing Installment Loans from my record

Installment accts have little effect unless they are late-
 
If they are paid and never late- I would just let them age-

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