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When will my paid loans go away?


When will my paid loans go away?

I graduated from college in August of 2008. I don't think I was ever really on time with my loans. They started with EdFinancial, went to AES, then to ECMC. There was $16,000 in charge-offs that I paid in full last month. I know derogatory lines fall off after 7 years, but does that restart with each lender? How does that work?

Message 1 of 4
Frequent Contributor

Re: When will my paid loans go away?

It depends were they reporting as lates monthly or just a charge off/ collection? if it was reported as lates, you could be in for a world of hurt, if they were just collections all chargeoffs should come off 7 years to the date of first delinquency on the loans no matter how many times they were sold


Since they are now paid closed, you can ask TU to delete 6 months early, Experian will delete three months early, and Equifax will delete 3 months early

Message 2 of 4
Senior Contributor

Re: When will my paid loans go away?

The lates for original creditors usually fall off at 7y.   For collections - it can be 7y +180d from the date of first delinquency (DOFD).

Be careful with asking for early exclusions - TU is pretty basic, but EX has had some squirrely stuff, and EQ can be an utter nightmare.   If you are going for a major purchase like a car or house, it might be worth it.   If you're just wanting to increase your score, 3m is not a long wait (and I thought EQ was one month, but they're squirrely, so I don't even play with them).

F8 EQ: 799 | EX: 791 | TU: 791 | Accounts: 2/6 3/12 9/24
Happy practitioner of AZE9or10or11or12 | Team Finances > FICO
Message 3 of 4
Frequent Contributor

Re: When will my paid loans go away?

Yes, ex now has early exclusion preset into removals now they are removing lates or derogatories 6 years and nine months after dofd without asking, eq is also, so neither of those are worth messing with TU is the big one, with EE you get 6 months whereas they normally delete one month early without EE

Message 4 of 4
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