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Posted in Student Loans
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jcclose1

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Consolidation loan to remove missed payments from credit report?
My score is being held down by missed payments 3 yrs ago on fed student loans and the only way to remove them is to pay in full. If I took a consolidation loan and closed the old accounts could I get the missed payments off of my report?

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Closing an account does not remove it or the negative information associated with it. As you said, you will have to pay the federal loan if not the negative info will remain forever, so I guess I would still pay it off, but don't expect the late/missed payments to be removed until seven years have passed since they occured.

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