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Credit scores and paid off loans

(11 Posts)
ReadyForActionRyderSir Mon 14-Sep-20 10:08:13

Hi
Does anyone know how long it takes for a loan that has been paid off in full to show as cleared or closed on a credit check such as clearscore or Experian etc? Is there anything you can do to speed up the process?
For info, paid loan off early last week, bank showed loan as cleared and that account closed on Friday but need it to show as cleared on credit check files before we remortgage to get a better deal.
Thanks for reading

OP’s posts: |
ComtesseDeSpair Mon 14-Sep-20 10:22:14

I generally find it takes six to eight weeks - a credit card I closed at the end of June dropped off my credit report last month and a loan I repaid in early August showed as repaid this month.

unicornparty Mon 14-Sep-20 10:23:07

Mine still isn't showing my payment I made in July on my credit file!

PicsInRed Mon 14-Sep-20 10:40:23

There are currently delays in banks reporting in to credit agencies - which are being attributed to COVID.

I would allow 3 months and keep checking.

ReadyForActionRyderSir Mon 14-Sep-20 20:42:37

Mine took a couple of months to go

OP’s posts: |
BlueThursday Mon 14-Sep-20 21:14:56

Em, OP, are you answering your own question?

Jenasaurus Mon 14-Sep-20 21:16:26

BlueThursday

Em, OP, are you answering your own question?

Oh yes, just spotted that, how strange smile

MsEllany Mon 14-Sep-20 22:10:48

Write to the personal loan people and ask them to confirm it has been paid off, that is normally sufficient for your mortgage company.

FAQs Mon 14-Sep-20 22:14:50

I tried to hurry one up in July but it can take between 4 and up to 20 weeks before you can raise it with the credit companies. Mine took 8 weeks.

unicornparty Tue 15-Sep-20 07:50:10

Op why have you just said yours took 2 months to go when you asked the original question? confused

ReadyForActionRyderSir Thu 17-Sep-20 21:19:12

Sorry I meant to say previously it took a couple of months, wondered if it was any different now, or faster or slower? Previously was three years ago.
Thanks for your responses

OP’s posts: |

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