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why is stuff from 2004 still included in my credit report

bowlofturtle 382 43 November 13, 2015 at 04:58 AM
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I paid off 2 of my student loans, one in 2004 and one in 2005. Last school semester i took out a loan to finish my schooling and one for the upcoming spring semester. I also have some closed credit cards that are 5-7 years ago.

From what i understand, it doesn't hurt me because its saying "closed" "Zero balance" but this is over 10 years ago on both. I understand that bankruptcy do away/drop at 7 or 10 pending which one, but does that stick around like my student loans are? At what point does it completely drop off from the face of the earth?

I recently pulled my credit report and it shows 3 student loans against my name, even tho 2 are closed and 10+ years. I think people looking at my credit report at a glance might be under the wrong impression. I figure mortgage underwriters will do their homework and figure out they are paid in full but maybe car loan guys, credit card people, even my car insurance might not look into it.

At the end of the day, i just want to know when will it drop from the face of the earth?

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Joined Jan 2004
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#2
Quote from bowlofturtle View Post :
I paid off 2 of my student loans, one in 2004 and one in 2005. Last school semester i took out a loan to finish my schooling and one for the upcoming spring semester. I also have some closed credit cards that are 5-7 years ago.

From what i understand, it doesn't hurt me because its saying "closed" "Zero balance" but this is over 10 years ago on both. I understand that bankruptcy do away/drop at 7 or 10 pending which one, but does that stick around like my student loans are? At what point does it completely drop off from the face of the earth?

I recently pulled my credit report and it shows 3 student loans against my name, even tho 2 are closed and 10+ years. I think people looking at my credit report at a glance might be under the wrong impression. I figure mortgage underwriters will do their homework and figure out they are paid in full but maybe car loan guys, credit card people, even my car insurance might not look into it.

At the end of the day, i just want to know when will it drop from the face of the earth?
You paid them off in 2004/2005 or that is when you got them? From what I know things generally fall off 10 years after they're closed (last day of activity) if there is no problem.
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#3
ask for them to be removed from 3 credit reporting agencys


http://www.bankrate.com/finance/d...ebt-1.aspx
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Joined Nov 2008
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#4
Quote from LivninSC View Post :
You paid them off in 2004/2005 or that is when you got them? From what I know things generally fall off 10 years after they're closed (last day of activity) if there is no problem.
PAID off. They were created roughly 2002/2003. I only did 2 semesters and stuff happened. Right around the 6 months no-interest thing, i attacked the student loans aggressively because it was the highest interest rate at the time.
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#5
Quote from bowlofturtle View Post :
I paid off 2 of my student loans, one in 2004 and one in 2005. Last school semester i took out a loan to finish my schooling and one for the upcoming spring semester. I also have some closed credit cards that are 5-7 years ago.

From what i understand, it doesn't hurt me because its saying "closed" "Zero balance" but this is over 10 years ago on both. I understand that bankruptcy do away/drop at 7 or 10 pending which one, but does that stick around like my student loans are? At what point does it completely drop off from the face of the earth?

I recently pulled my credit report and it shows 3 student loans against my name, even tho 2 are closed and 10+ years. I think people looking at my credit report at a glance might be under the wrong impression. I figure mortgage underwriters will do their homework and figure out they are paid in full but maybe car loan guys, credit card people, even my car insurance might not look into it.

At the end of the day, i just want to know when will it drop from the face of the earth?
You didn't state if these had any derogatory notes. If they are closed, paid off, and in good standing it actually helps you quite a bit and you want them to be on there. Lenders like to see that you have taken credit and handled it appropriately. If these are negative then you definitely want them off. If they are not negative I wouldn't want them off mine.
7 years would be typical. You are certainly able to contact the bureaus to deal with them if desired. Remember on a credit report that negative stuff is bad and you want it removed but if you handled something properly you LIKE it -- the fact that you had debt doesn't matter to your current ratios and it shows a history of you being responsible.

Also remember those loans are 7 years from date of last activity.
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#6
Only derogatory items stay on for seven to ten years. Other accounts will stay on forever. You don't need to worry that they are on your credit. They're not affecting your score and no one looking at your credit to make a decision will be looking at old debt.
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#7
It's a good thing to show your loans are paid off. It actually helps you.
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