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If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?
Wiki User
∙ 8y ago
IF the lender posts a repo on your CR, you have one.
You will have the repo on your credit report, but it should also show up as "redeemed".
Wiki User
∙ 8y ago
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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.
Does it matter credit wise after a car is repossessed whether you pay off the balance immediately or let bank auction and settle the difference?
Nope and it doesn't matter if it is a voluntary or involuntary repossion. Once the first payment is overdue by 30 days it automatically goes on you credit report as an overdue payment and then once the car is reposessed it goes on your credit and makes NO note to why it was taken back or whether you gave it back and even if you pay the amount off it is still on your credit for 7 years
Where do you send information for your credit report for the 3 credit bureaus?
In the back of your credit report there is a listing of addresses and phone numbers for each credit bureau.
What does it mean when they say that your credit report is suppressed?
When you suppress your credit report, that means that anybody who pulls your credit report will get no information back. It will not even give the header that comes on the credit reports. So if you are looking to get some type of credit do not suppress your credit report.
How do you find out what financial institution issued a credit card when the account number is not on your credit report?
Call the Credit report agency that pulled your credit from the Bureau's and ask them to look at the back of the credit report where it says inquiries.
Is it better to turn your car in that to have it repossessed?
It will still show up as a repo on your credit report, even if you brought the car back and told them you can't pay for it.
If your car is repossessed and you pay to get it back does it stay on your credit as a repo?
It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.
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 you made all the back payments on a repossessed car and paid the fees that were due would the repossession still show up on your credit report?
YES I have a letter if you would like it that you can send to the parties involved that may or may not be able to help you get this off your credit report. let me know if you would like it.
Can a motorcycle purchased on credit card be repossessed?
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
If after ten years the repossed car is still on your credit report do you have to pay the loan back?
i repo in six states and as far as i know it will stay on your credit report until you settle your debt to the lien holder
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 do you report a paid off car loan if company did not report?
You need to obtain a copy of the letter stating that the loan id paid in full and just show that to them. If they are still telling you that nothing was reported pull a copy of your credit report to be on the safe side. If nothing's on your credit credit and it is still holding you back from getting something else that requires your credit to be checked than contact the Credit agency.
Does it matter credit wise after a car is repossessed whether you pay off the balance immediately or let bank auction and settle the difference?
Nope and it doesn't matter if it is a voluntary or involuntary repossion. Once the first payment is overdue by 30 days it automatically goes on you credit report as an overdue payment and then once the car is reposessed it goes on your credit and makes NO note to why it was taken back or whether you gave it back and even if you pay the amount off it is still on your credit for 7 years
Where do you send information for your credit report for the 3 credit bureaus?
In the back of your credit report there is a listing of addresses and phone numbers for each credit bureau.
What does it mean when they say that your credit report is suppressed?
When you suppress your credit report, that means that anybody who pulls your credit report will get no information back. It will not even give the header that comes on the credit reports. So if you are looking to get some type of credit do not suppress your credit report.
If your spouse's car was repossessed can you make payments to get it back?
Yes. And that will help out their credit history too:)
