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Posted in Auto Loans
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ricemba0923

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How do I get a vehicle that was paid off removed from my credit report?
is it because we settled with Compass Bank that they are leaving it on there? Is the 32k that it lists hurting my credit score and ability to secure a auto loan in the future? it shows on my report as a credit report balance of 32k but the vehicle was paid off and I have the paperwork to prove that in 2012.

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Because you had a loan with them, you DO NOT want it deleted.  Your credit history that shows on all three credit reports is what helps determine if you get credit again, or not.  And you do not want credit to show NO history, because that absolutly doesn't work, either. So, let it stay.

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Any closed account will stay on your credit report for 7 & 1/2 years from the date it is paid off.  Only exception is if you got something in writing from the creditor stating they'll delete the account once paid.  If the account is still showing as open, then you'll need to contact the credit and tell them to fix it and contact credit bureaus and tell them it isn't correct.  Best of luck!

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