credit report?

how long after you pay off something that was on your credit report does it go off your credit? also when you have a car loan on your credit report and you get finished paying it off and have no late payment how much will you credit score go up and how soon?

Public Comments

1. First question: Something negative, other than a bankruptcy, takes 7 years. A bankruptcy can take 10. Something positive takes 10 from whichever is later of when the account was closed or when you paid it off. Second question: Your score goes up when the car loan company reports to the credit bureau that you no longer owe anything. How much it increases depends on what else is on your report.
2. It will not go off your credit report for 7 years. It will show that it has been paid off though. The only way to get something taken off your credit report is if it is wrong and you contest it. Your credit reort might go up some after paying off a car loan but it depends on other factors.
3. It usually takes from 30 to 90 days to be reported. However it does not go away from your credit, it remains on it but the status changes as either, paid, closed, as agreed, inactive, etc. As for your car loan it varies, it takes about the same time to be reported.
4. Derogatory accounts continue to show on your report even if you pay them off for 7 years from the date of first delinquency. As far as the car account, it's impossible to tell how much your score will go up. It's based on so many other things
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