Wishmich

Installment acct paid off but still showing on CR?

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Once an account is paid off, is it supposed to keep on showing up on the CR? It was a car loan that was last updated and paid off in 2007. There are a bunch of late payments showing on it which is sucking the life out of my score. Will that stay on for five more years? Same with a Sam's Club CC. I had 4 lates in the past 48 months, they closed the account. I'm paying it off this month. Will that haunt me, too?

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Yes, they will stay on your report for 7 years. Try disputing them with all 3 CRA's. They might remove the late payments because they no longer have the documentation to support the late payment. They also might not respond to the dispute at all and the CRA's will remove the account from your CR.

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