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Can a car repossession be removed from your credit report because another family member was responsible for the loan?

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2005-09-13 16:22:02
2005-09-13 16:22:02

Nope, that is why you had to be co-signer. The bank was concerned that the loan might go into default and they wanted to be protected. If you took on the obligation you will be held responsible.

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A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.

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