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Yes it can and will effect your credit

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โˆ™ 2015-07-14 16:09:12
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Q: Can a car be repossessed if the title work has not yet been completed and whose credit would the repo affect?
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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.


After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.


How do you get the title to a car you've had 5 years is on your credit as a repossession but the company never physically repossessed?

contact the lending institution and offer to make partial payment in exchange for the title.


Can a car be repossessed with title and no lien on it?

no


If there are two owners on a auto title and only one signs for a auto title loan and dies is the other person responsible for paying balance of loan?

The short answer is yes, if you want to keep the car. Otherwise the loan will go into default and it will be repossessed. If you did not sign for the loan, it will not affect your credit.


Can your car be repossessed if there is no lien holder on title?

no


Can your car be repossessed on a title loan after gone into collections?

Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.


If you break up with your boyfriend can you have his motorcycle repossessed if your name is one the title?

Is his name on the title also?


If you pawn a vehicle and it gets repossessed will this hurt your credit?

IF the lender reports it to the CRA, it will. FWIW, title pawn lenders USUALLY dont report it. Too much work and paperwwork for them. LOL


Can a car be repossessed if there is a lien holder on title but there is no actual loan?

hi


What happens to title loan cars when they are repossessed?

They are sent to an auction and sold.


Does having the title to a repossessed truck give you any legal rights?

NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL

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