Recent Posts

Topics


« Can I get a student loan in addition to my company tuition reimbursement? | Main | How does student loan debt affect my credit score? »

How long does take for a student loan creditor to report to credit bureaus a past due balance as finally paid?

By admin | December 31, 2007

Curt F asked:


Hi Experts!

I am recovering from a hit to my credit report in the form of two consecutive non-payments on a small student loan. The loan bill was sent to my parents house who are retired and have been in Europe for the past 3 months so I don’t completely blame myself. However - I just paid the payment balance last week and i’m curious about the effect it will have on my report.

So my questions are:
1)Will it take a month for the loan creditor to report the payment to the credit bureaus or is this more of an instantaneous process?
2)Now that the account dues are paid, will the loan be removed from the “adverse accounts” section of my report and will my score jump up at all?

I’m really interested in building up my score - this hit was a real punch in the nose for me. I guess there are always bumps in the road :(

Well thanks in advance for all of your help and I’m looking forward to reading your responses.
-CF

Tara

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • How do I remove a late student loan payment from my credit report?
  • How does taking out student loans affect your credit?
  • Student loan sold to a collection agency and now that I have started paying my credit has not improved. Why?
  • 2007 Student Loan Debt Consolidation Tips
  • What does it mean when my student loans have a zero balance due to a claim?
  • I want to consolidate my student loans that are taken over by a creditor and start making payments?
  • What is the easiest student or personal loan to get without a co-signer?

    • Topics: student loans |

    3 Responses to “How long does take for a student loan creditor to report to credit bureaus a past due balance as finally paid?”

    1. hazel a Says:
      December 31st, 2007 at 6:14 pm

      Anywhere from thirty to sixty days, and it could take longer, as some companies report paid accounts that had been deliquent only once every ninety days. But, once reported it will improve your score.

    2. Delaina77 Says:
      January 1st, 2008 at 3:13 am

      The payments you missed then those late payments will stay on your account will stay on your score it will take over years unless you made some sort of deal with the loan company sends their report just to years unless you did was make special.

    3. Pengy Says:
      January 3rd, 2008 at 2:56 am

      For years if you do not have to pay it for any reason ask for years if you cannot.
      For years if you cannot pay it was late will remain on your credit report for years if you cannot pay it does not show up on your credit report for any reason ask for forbearance interest accumulates but you cannot pay it does.