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Posted in Auto Loans
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keksmom07

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Increase in my score?
I currently have 3 auto loans showing on my credit report. One of these is a totaled car which insurance and GAP have now paid off. How much of an increase in my credit score should I expect once this loan is shown as paid in full or removed from my report?

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It probably won't be removed, accounts are not removed just because they are paid. Not sure how it will affect your scores, in most cases when loans are paid off and closed your scores will get dinged, but if you have two other open installment loans your case may be a little different. Keep an eye on your FICO scores too.

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