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Posted in Auto Loans
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Question By
DaRayvn

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Why loan is not coming off credit report?
I paid off a motorcycle loan 3 weeks ago but it's still on my credit report saying that the account is still open. Do I need to contact the credit union because of this?

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Top Contributor
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Not a problem.

First off, it takes a bit of time (several weeks) for information to be put or updated on a credit report.

Second, the fact that  you had this l,oan is part of your credit history and will be shown on your credit report for 7 years from the date the loan was paid off.  If you have a good payment history, it might even stay on for 10 years, and that is great!  If you had late payments, there is no getting around that and it will remain on the report for 7 years.

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