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zionminstrel

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Pay off one of my student loans?
I currently have two student loans; one is 3,500 while the other (recent graduate) is 32,000. I was negligent in repaying on my 3,500 loan for multiple consecutive months and it took a hit on my credit score. I have a mortgage that I've never been late with and have never been late with payments on the 32,000 loan. I have enough in savings at this point that I could pay off the 3,500 loan but I thought I read somewhere that it might actually hinder my score if I did so. I would like to increase my credit score as quickly as we started considering moving into a new house.
I guess my question is, considering all the above, would it be better for my credit score immediately to pay off the 3,500 student loan or just get back on regular payments?
Thanks in advance for any advice.

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The negative information associated with the 3500 loan is not going to disappear if you pay it off, late or missed payments stay on your reports for seven years from the time that they occurred. Usually closing loans will cause score decreases.

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