Student Loan Missed Payments?

[Anonymous]

I have four students loan and each has 8 missed payments. I am current now and have paid the monthly payment on time for the last 6 months. Due to a side hustle, I have the cash to pay off these loans now. But I am wondering if it's better for my credit score to continue making automatic monthly payments for a year of two to put the missed payments in the past. I have also contacted my loan servicer serveral times and they will not goodwill remove any late payments. What's the right move?

[simplegirl]

Do you have any other installment loans?

[Anonymous]

No, only credit cards. I don't have a car payment or mortgage.

[simplegirl]

Okay so you only need 1 installment loan open to not take a hit in score. You can pay off all but one of the student loans leaving the one opened first.

[jrwa81]

I would leave one or two of them open.   It's best to have an active installment loan to help with your credit mix as well as building positive payment history.  Don't pay them all off.  

[FireMedic1]

Keep the one with the lowest balance. The lates wont go away no matter how many on time payments you make. More good payments doesnt cover up the past. Credit is the bad outweighs the good unfortunately. Glad your able to close them out. Congrats!

[Anonymous]

Thank you everyone for the thoughtful responses. I will go ahead and pay three of the loans and keep one.