I was wondering, how much does a student loan that is paid and closed, with negative tradelines affect your score? Here goes: Sallie Mae: Closed acct/acct xrf/sold Previous payment history: 15x 90 days late
(I think your question might be too vague, and that's why no one is responding) It's hard to tell how much a tradeline like that is going to affect your score....alot depends on whether its your first/only negative or if you have alot of other late pays, etc. and also when the last late pay was. I've not read anywhere that it makes any difference whether it is a student loan or another kind of loan is open or closed, paid or with an existing balance. Although, I suppose if it was $0 balance it would help your limit/balance ratios. If you're in this situation, would it be possible to rehab the loan? As I understand it from reading here that once the loan is rehabbed, the negatives are supposed to fall off after a year. Check out the Dept. of Ed website for details.
Yes...no one knows how much something will affect your score because there are too many variables. All we do know is that will age and no negatives, are scores can be real GOOOOD!!!
Thanks to all who responded. I guess it was a vague question. The thing is, I have 1 60 day late on one cc, the other two are never late. Besides a car loan that was a repo was paid off, but still show late pays, is scheduled to come off as of 10/03 on TU and EQ. I was just wondering how many points I would obtain. From reading other threads, I understand that you really don't gain many points until your last neg. is off. But thanks anyway.
