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How can a car repossession be on your credit report when your car was not repossessed?
Wiki User
∙ 12y ago
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
Wiki User
∙ 12y ago
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Can you break a lease on a car?
It is possible but not advisable to break a lease on a car. The car would be repossessed, and the repossession would go on your credit report.
If you get a repossessed car back is it removed from your credit?
No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.
If your car is repossessed but you get current within say two weeks of repossession does the repossession appear on your credit report?
If your power gets shut off and you go in and pay the bill current, did your power get shut off?
If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?
Goes on your credit as a repossession.
How long after repossession can you get a car loan?
The repossession stays on your credit report for 7 years.
How bad does a car repossession affect your credit report?
A Lot.
Does a repossession stay on your credit report if you get the car back?
YES
If your car is repossessed how does getting it back help your credit?
It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.
How does car repossesion affect credit score?
A repossession can drastically hurt your credit score. The repossessed account may report late payments (30, 60, 90 days late), a pad due balance, and a charge-off. A repossession can lower your credit score anywhere from 30 to 200 points depending on the other accounts reporting on your credit report.
Is a repossession marked on your credit report when the car is repossessed or when the loan is paid off?
Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.
If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?
No, because you have your own separate credit report.
How do you remove a repossession from your credit report?
There are 2 ways to remove a repossession from your credit report. You can dispute it to the credit bureaus under the FCRA and they have 30 days to verify the listing or it must be removed from your credit reports or you can contact the creditor that repossessed the car and negotiate the removal of it upon payment of any money owed. The entry is likely to be changed to late, but paid. Most of these fall off after 7 years.
