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zionminstrel

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Will significantly paying down a student loan help score in short term?
I have two student loans; a small one one which I've recently been delinquent several months and a newer one which is in good standing (good standing credit otherwise: mortgage, credit cards that have no balance). I understand that paying of an account completely can actually hinder your credit score (which already took a hit with the delinquency). I was wondering if paying off a large portion of the loan (cutting it at least in half) would help increase my score more quickly. Need advice as I'm considering moving and a new mortgage by the end of summer.

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Paying down loans is always a move in the right direction regarding both your credit and your finances.

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