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Can you get a repossession off your credit if you pay the past due amount immediatley?
Wiki User
∙ 12y ago
Actually, it doesn't just come off your record. It will show as a repossession, but it will show as no balance due.
Wiki User
∙ 12y 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.
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
What does HC mean on a credit report?
HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.
Is there any way to clear a repossession from your credit?
The only way it will clear is after 7 years it will be taken off. If it has been past that time frame then you need to contact the credit burea or the company that repossesed the ca. Do not pay anyone to do this; it is not possible for anyone to do so.
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.
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
How do you stop a repossession in process?
Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.
If you file bankruptcy will it also erase a vehicle repossession on another person's credit report?
It doesn't erase anything on your own credit report....just adds to it, why would it change someone elses? It adds that you are a bankrupt as well as having missed payments and had a repossession. A credit report simply reports what happened in the past....what ever you do now does not change it...you live with the history you created.
What does HC mean on a credit report?
HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.
Would a vehicle repossession still be on your credit report after 15 years?
Your credit report contains the entire HISTORY of your credit life. The repo will appear on your record but if you've had good credit dealings over the past 15 years it may well only affect your current credit worthiness marginally.
On your credit card statement what is the outstanding balance?
Past due amount of money you owe.
Is there any way to clear a repossession from your credit?
The only way it will clear is after 7 years it will be taken off. If it has been past that time frame then you need to contact the credit burea or the company that repossesed the ca. Do not pay anyone to do this; it is not possible for anyone to do so.
What happen if you sold your car after you took the car loan?
After your vehicle is repossessed by the lender, they can put it up for sale, but, you have a time period to redeem it, paying the amount in arrears, plus collection costs.Upon repossession, you have the right to recover any personal items in the vehicle.The lender can sell on the bank lot, or at auction, and then sue you for the remainder of the loan and costs, not collected at sale. The repossession will go on your credit rating (for 7 years).Time periods for actions in a repossession vary by jurisdiction, and, as I am not a lawyer, only a repossession agent in the past, you should consult an attorney or your state Department of Motor Vehicles by phone or visit their website!
What is the past tense of credit?
The past tense of credit is credited.
What is the past tense for credit?
The past tense of credit is credited.
