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mmckrell

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My credit report still shows (now paid-off) loans
When you've paid off a loan, how long did it take to have the loan removed from your credit report, or displayed as having a $0 balance? I've heard monthly, quarterly, and even yearly. Having some perspective would help, as I don't want to send a dispute report too soon to the credit bureaus. Thanks!

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No disputing facts.

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The only items on your credit report that you CAN dispute are those that are NOT yours.  Anything that you did have, be it bad or good, will remain for 7 years as required under the Fair Credit Reporting Act (a federal law). 

It can take a cvouple of months for a paid in full to show on your credit report and this depends on how fast the bank/finance company completes their records and reports to the credit bureau, but it will be a few months, not a year by any means.

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