29 Sep 2025 | 5 Mins Read
Correct a settled loan on your credit report
Flipitmoney
Settling a loan can damage credit health as it's reported as "settled" rather than "closed," negatively affecting credit scores for up to seven years. To correct this, verify the credit report's accuracy, negotiate with the lender to update the loan status, and file a complaint with the credit bureau if necessary. Rebuilding credit requires consistent good behavior.