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Late Payments Not Deleted After Account Paid Off

Dear Experian,

I have paid off an account that previously had a late payment mark on my record. Is there any possible way to remove the negative mark on my credit scores, now that the account has been paid off?

– ALT

Dear ALT,

The short answer is no. Your credit report is a credit history, so any late payments on the account will be stay for seven years.

Paying off the account won’t remove the late payment. The good news is that the longer ago the delinquency occurred, the less impact it will have on your credit scores. Even better news is that the newest scoring systems exclude paid collections from the score calculation.

How Long Accounts Stay on Your Report

If the account went beyond late payments and reached a status of charged off or placed for collection and was closed, the entire account will be deleted seven years from the original delinquency date. The original delinquency date is the date the account was first reported late and not brought current.

While still on your report, the account would be updated to show paid charge off or paid collection account.

Although still considered negative, a paid collection or paid charge off will likely be viewed more favorably than an unpaid one. The further in the past the collection was paid, the less effect it will have on credit scores. And, some because some of the newer credit scoring models now exclude paid collections from the score calculations, so paying a past due debt could help your credit scores right away.

Thanks for asking.
– The “Ask Experian” team