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The Family Piggy Bank The Family Piggy Bank

Personal Loans & Credit.

Posted by on May. 9, 2012 at 10:55 AM
  • 11 Replies
Hubby took out a personal loan from our bank few months back and we'll be done paying it in August. My question is will it help his credit?
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by on May. 9, 2012 at 10:55 AM
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Replies (1-10):
Stevensmomma
by on May. 9, 2012 at 10:56 AM

Yes it will bc it shows how you made payments and had no problems doing so and paid on time

michiganmom116
by Gold Member on May. 9, 2012 at 11:02 AM

This.

Quoting Stevensmomma:

Yes it will bc it shows how you made payments and had no problems doing so and paid on time


SweetMama823
by Member on May. 9, 2012 at 11:04 AM
Cool...Thanks ladies!
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Kelly913
by on May. 9, 2012 at 6:53 PM
1 mom liked this

That's assuming all payments have been made on time of course.  Good for you for taking steps to improve things. 

yvonne37
by Yvonne on May. 9, 2012 at 7:08 PM

 If you didnt miss a payment it sure will :)

suziejax
by Suzie on May. 9, 2012 at 7:10 PM

Sometimes when you pay a loan off to soon it will not help your credit I recently discovered. It depends on the size of the loan. For example if the loan was around 6 k then you would need to hold it at least a year then pay off for it to do well on your credit. To pay off sooner will not help if building up your cerdit is your goal. But if your not concerned about your credit score pay it off soon as possiable ,, it won't harm you or help you on credit other than showing your debt free on that.

AzariahsMother
by on May. 9, 2012 at 8:54 PM

Yes it will help.

mommyprice09
by Ashley on May. 9, 2012 at 9:25 PM


Quoting Stevensmomma:

Yes it will bc it shows how you made payments and had no problems doing so and paid on time


http://raysofsunshineanp.blogspot.com/
momto3isme
by Dawn on May. 10, 2012 at 7:42 AM
As long as all the payments are made on time then yes it will improve your credit score.
MamaBear2cubs
by Nikki on May. 10, 2012 at 7:48 AM

Yes.

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