Blog » Community » I recently paid off a closed/derogatory account. Will this help my score?

I recently paid off a closed/derogatory account. Will this help my score?

Paying off a past due account is an important first step to improving your credit history, and although the account will still be considered potentially negative, you may see your credit score improve once the account shows it has been paid. The account itself will remain on the report for seven years from the original delinquency date, but the longer ago the late payments occurred, the less it will affect your credit score.

Aside from the potential to raise your credit score, the fact that the account is now paid will be helpful should you ever need to apply for a loan. Most lenders will require that any past due debts on your report be paid in full before extending additional credit.

Check out the scope to hear answers to all the questions asked:

Do you have questions about credit?

Join our live video chat every Tuesday and Thursday at 2:30 p.m. ET on Periscope. Rod Griffin, Director of Public Education at Experian, is available to answer your questions live.

Scoped on: 03/29/2016

Review Your Free Experian Credit Report Today

Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

Get Started for Free

Credit Education

Credit Cards & Loans

Get credit cards and loans from our trusted network of partners. See credit offers based on your credit when you sign up for free.

Browse Credit Cards & Loans

5 Budget-Friendly Ways to Give Back

As the holiday season ramps up, Americans often increase their charitable giving. Here are five ways to give to others while still staying on budget.