Getting Student Loans Removed

Anonymous · ‎01-26-2019

I have like 20 closed student loan accounts on my credit report. They are all closed because I consolidated them into two seperate loans. I kinda wish I hadnt done that cause then I could have paid them off individually but I was young and stupid.

Anyway, I want to get those all removed if possible. Would it kill my score If I had all those accounts removed except for maybe the oldest one? I am trying to get a mortgage and having 20+ (albeit closed) student loans on my credit report doesnt look good.

I also have three personal loans I took out in 2011/2012 Id like to have removed. They are closed and in good standing but old. I feel like my credit report is mostly loans.... Actually it IS mostly loans. Infact almost the whole thing is loans and in the last year, credit cards. I have some baddies that I am working to get fixed and two REALLY stubborn CA that are just nightmares but other than that my credit is cleaning up really nicely. MyFICO showed a 13pt increase from a "Personal Finance Account" removal but it didnt say which one. I want to see more like that and if I can get it by getting these PFA removed I will do it.

Thoughts?

Anonymous · ‎01-26-2019

They are doing you more good than harm. I would leave them. UWs are used to seeing files like this.

Anonymous · ‎01-27-2019

If all you have on credit report are the loans, you definitely don't want that to come off.
In fact, if they are paid and have a good payment history, I would let the loans that should have aged off stay on too.
If you're getting a mortgage soon, it's obviously not the time to look into more credit. But if you are interested, you might want to think about getting a credit card eventually so you won't be missing out on those points.
It doesn't matter if you consolidated the loans or not. You're still going to owe what you owe. Many people have student loans, so that's not uncommon. I would recommend checking with potential lenders and see what they recommend before you take any extreme action.

Anonymous · ‎01-27-2019

Thank you. I do have a few credit cards I got last year when we couldn't get a major account on my husbands report taken care of. I am def. Seeing the benefit of the credit cards on my score. I should reach out to the lender I'd like to use this spring. See what he says.