If you've recently repaid your loan in full — whether by finishing your monthly payments or settling early — you might still see the account listed on your credit file. That’s completely normal.
Closed loans stay on your credit file for 6 years
In the UK, credit reference agencies (CRAs) like Experian, Equifax, and TransUnion keep a record of all credit accounts for six years after they’re closed. This includes:
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Loans you’ve repaid in full
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Credit cards you’ve closed
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Mortgages and other credit agreements
This record includes:
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The original loan amount
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The start and end dates
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Your payment history
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The date the account was settled or closed
🔍 Why is this done?
Keeping a record of closed accounts helps lenders:
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Understand how you’ve managed credit in the past
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See that you’ve successfully repaid previous loans
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Assess your creditworthiness for future applications
A closed loan with a good payment record can positively impact your credit score, as it shows you borrowed responsibly and repaid as agreed.
⚠️ What if something looks wrong?
Your loan should appear as:
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Closed or Settled
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With a £0 balance
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And no recent missed payments
If that’s not the case — for example, if the balance still shows as outstanding, or it’s marked incorrectly — please contact us. We’ll be happy to check the information we’ve reported and help you raise a dispute with the relevant credit reference agency if needed.
📆 When will it disappear?
Your closed loan will automatically be removed six years after the date it was settled, even if the account was closed early.
Still have questions?
If you're unsure whether the information on your credit file is accurate, or need help understanding how your loan was reported, just get in touch — our support team is here to help.