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Xyz515

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Will paying off my closed student account improve my credit score?
Hello.

I have a student account listed on my credit report with the status marked as closed with one total late payment and zero percent paid off. It's listed as being opened on March 31st, 2004 and was reported November 30th, 2013.

I am able to pay the balance, however, before doing so I would like to know if this will improve my credit score. (I am looking into getting a new car and improving my credit score would go a long way.)

I do not believe it went to collections as no one is listed except for the school itself, however, I could be wrong in thinking this...

Thank you in advance.

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