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Question for the Money Doctors

Question submitted on Nov 6, 2013.


I would like to know if the late payments are deleted from your credit report once the debt has been paid. I am referring to my student loans. I had two, of which I paid both of them off. I had been paying on my loans for a year. I did not have one missed payment during this year. The late payments were due to the fact that I was in default for a time. As soon as I connected with the Company that managed my loans, I never had a late payment. I am hoping that resolving the debt will eliminate the late payments from my credit report. I would appreciate a response from you.

Thank you,



If you were ever late on any payments on your debts, the indicator will not go away even when a debt is paid off. Late payments on your debts certainly affect your credit score. If these occurred many years ago, a more recent history of timely payments would certainly help.


You can go to to get a free credit report from the various reporting agencies. You get a free credit report every 12 months. Please log in and review the information carefully. You can speak to the credit reporting agencies to see what you can do to clean up your credit report.

You can meet with your local nonprofit consumer credit counseling service to review your credit reports with them and ask for their help in cleaning up your credit reports and tips to improve your credit score.

Please follow this link on the 360degrees of Financial Literacy website on Credit and Debt:

For additional information visit