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10 year old paid off defaulted student loans still in FICO

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Jovian
Valued Member

10 year old paid off defaulted student loans still in FICO

I paid off all of my student loans this year, they were first issued 1997, below are details on one of them.  When should I expect this to disappear from my report and will this help improve my credit when it does?

 

 

Status as of [?] Jul, 2008 Date opened [?] Dec, 1997 Date of last activity [?] Aug, 2007
___________________________________________________
TU: 592 11/08/2008.....EQ: 602 11/02/2008.....EX: 604 11/8/2008
TU: 618 12/04/2008.....EQ: 618 12/10/2008.....EX: 622 12/8/2008
TU: 647 11/11/2009.....EQ: 633 11/10/2009
TU: 672 12/07/2009.....EQ: 651 11/28/2009.....EX: 650 12/07/2009(EX pulled by Lender)
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llecs
Moderator Emeritus

Re: 10 year old paid off defaulted student loans still in FICO


Jovian wrote:

I paid off all of my student loans this year, they were first issued 1997, below are details on one of them.  When should I expect this to disappear from my report and will this help improve my credit when it does?

 

 

Status as of [?] Jul, 2008 Date opened [?] Dec, 1997 Date of last activity [?] Aug, 2007

 

If you are free of any serious lates, then expect your score to drop if removed. Chances are these SLs are helping with your credit history. Remove them, and your avg. age drops as does your score.
Message 2 of 2
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llecs
Moderator Emeritus

Re: 10 year old paid off defaulted student loans still in FICO


Jovian wrote:

I paid off all of my student loans this year, they were first issued 1997, below are details on one of them.  When should I expect this to disappear from my report and will this help improve my credit when it does?

 

 

Status as of [?] Jul, 2008 Date opened [?] Dec, 1997 Date of last activity [?] Aug, 2007

 

If you are free of any serious lates, then expect your score to drop if removed. Chances are these SLs are helping with your credit history. Remove them, and your avg. age drops as does your score.
Message 2 of 2
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