What must you do if it has been over 7 years since your vehicle has been repossessed and you do not know what number to call if you wanted to fix this problem?

Answer 1

My friend if its been over 7 years since your vehicle was repoed i would just wait a little longer a it should take care of its self they dont generally stay on for more then 7-10 years any way. Once something is on your credit the only way it's coming off is if you dispute the legitimacy of it. If you are able to prove your case then by law the reporting agency must remove the blemish. If your car was repossessed and that shows on your credit then it will be there forever. The only thing that makes it appear as though it does not exist is time. Most people you would go to for a loan will look back 3-5 years. They can look back as far as 10 though and most major items stop showing after 7 years such as judgements, liens, forclosures, repossessions and bankruptcies. But they are still on the history somewhere. If a dealership was to finance you now and the 7 year old repossession showed up but since then you have taken care of your creditors then they should not consider that a real issue. If you have a pattern of unpaid or late payments since the repossession then they will look at that more so then anything else. Doesn't matter if you make a million dollars a year. If your not willing to spend it on loan payments no one wants to finance you.