How do I get a bill with a 0 balance off of my credit report? Is it still hurting my score?
lulubell0419 asked:
I have a few bills on my credit report which have been paid off. Are they hurting my score? How do I get them removed so when my credit is checked (when I apply for a loan)they will no longer be seen?
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I have a few bills on my credit report which have been paid off. Are they hurting my score? How do I get them removed so when my credit is checked (when I apply for a loan)they will no longer be seen?
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Tags: Apply For A Loan, Credit Report, Score
March 9th, 2009 at 8:20 am
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If they have been paid, they will show a $0 balance and will not hurt your score near as bad as if they showed a balance.
There is no way to remove accurate information from your report except time.
March 9th, 2009 at 9:19 pm
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You should of negotiated a deletion befor payment ..since you did not sorry the time frame will be 7 years
March 11th, 2009 at 2:49 pm
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As long as it was paid on time, it won’t hurt your credit score and may have improved it. Your new lender likes to see some credit history. If it bothers you, simply close the paid off account. Then it will fall off your credit report in about 7 years. Most lenders do not pay much attention after about 2 years.
Your new lender is only concerned about you paying on time and not making payments late. Their other concern is excessive available credit. Example, you buy a home and have credit at Sears, J C Penney and Home Depot. The new lender wants to be comfortable that you won’t overspend at those places after you get your mortgage. They get more nervous if you open a new credit card after your application for the mortgage for the same reasons.
Your FICO credit score is determined by:
Past payment history 35%
Outstanding debt 30%
Length of credit history 15%
Recent credit applications 10%
Types of credit and loans you have 10%
Total100%
March 14th, 2009 at 11:32 am
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If they are older than seven years, write a letter to the Credit Bureaus asking for them to be removed. Who told you
they were hurting your credit?
March 16th, 2009 at 10:11 am
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Hi,
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