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IF you know which lender to report them to, you can. Doing so is really a GOOD idea because we ALL have to pay so the deadbeats can try to ride for free. Reporting them SAVES them(the debtor) money in the long run cause the lender doesnt have to pay to find them. Some people just dont know when to say" I CANT make these notes". Its a combo of pride and desperation???

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โˆ™ 2015-07-15 18:35:43
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Q: Can you report another person to the lender for a car repossession?
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How will voluntary repossession of my home in Texas affect my credit?

The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.


What if the lender can not find any information on repossession that is on your credit report?

It might not have been turned in. If not, consider yourself fortunate.


Can a lender report a vechicle stolen while trying to repossess in the state of Florida?

In the event that the possessor of the vehicle is not a contracted party, or if the contracted party is actively seeking to hinder repossession, then yes, the lender can report the vehicle stolen.


How can Ifind out how much your car sold for after repo at the auction?

Contact the lender or the repossession agency in writing and request a copy of the report of sale.


What are the repercussions of an automobile repossession?

First off you will be required to pay the repossession fees unless you voluntarily turned the car in. Secondly you will be required to pay the deficiency. The deficiency is the difference in the amount the lender sells the car for and the amount you owe. Let's say you owe $10,000 and they sell the car for $8,000. That leaves you owing the lender $2,000. Thirdly this repossession will be placed on your credit report and will stay there for 7 years. Repossession should be the last resort after you have talked to the lender and done all you can to avoid this. Sell the car to another individual even if you have to sell it for less than it is worth, then pay the lender the deficiency out of your pocket to avoid repossession. Have someone take over the payments. Whatever it takes to avoid this.


Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?

No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


What does a car repossession do to your credit How can you delete it from your record?

It hurts you credit tremondously. It will stay on your credit report for 7 years, and there is nothing you can do about it. Do not allow your car to be repossed. Voluntary repossession on not any better. Contact the lender and work something out.


If you return a car to the dealership which financed it will it still be considered a repossession even if you have to pay off the balance?

YES, unless the LENDER decides not to report a repo to the CA.


Does the repossession company have to report the repossession to the police after the repossession?

I only know about the state of Massachusetts. And yes in our state they have one hour to report the repossession to the police department in the town of which the car was taken.


Is a repossession marked on your credit report when the car is repossessed or when the loan is paid off?

Think about it. IF the lender waited until the loan was paid off,zillions of repos would NEVER be reported. Sooo, they report them as they happen.


Will it still affect your credit report if you pay the full costs ten days after repossession?

As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.


What will a repossession do to your credit report?

A repossession is a serious negative and will drop your scores.


How do you find out how much your vehicle was auctioned off for after repo?

Contact the repossession agency who recovered the unit and contact the lender. Request in writing a report of sale, and request the lender to reconcile the debt to show all activity that has increased or decreased the balance.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


How can you get a 1997 repossession off of your credit report?

http://www.bankrate.com/goocalf/search/story-advice.asp Getting it off? NOT likely. Improve it? Maybe, if you settle the debt with the lender. Get it marked "paid as agreed" IF you negotiate some type of deal with the lender. It is just a report of what happened. try the above link for more info. Good Luck


Can a person turn back in a car that they bought a week ago and not be considered a repo?

Considering that the LENDER will be the one to report it as a "repo", wouldn't it be best the discuss it with the LENDER?


Does bankruptcy remove a repossession from your credit report?

No.


If lender listed car as a repossession within last 24 hours is it too late to avoid having it on credit report if it has not been picked up yet?

First of all, a lender does not report a vehicle as a repossession until they actually have possession of the vehicle. Then immediately via computer the code is entered and authorities notified. The credit reporting company may be a little slow getting the repo on your report however, but any new lender is going to check your report before giving you a new loan. After a vehicle is repo'd you usually have a few days prior to sale of that vehicle, to get the vehicle back if you pay the account current plus any repo expenses if it was a voluntary repo. If it was not voluntary, and the lender had to take the vehicle, they probably will not redeem the vehicle back to you, but it never hurts to ask.


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.


Need to get a reepo off my credit report?

i need to get a repossession off my credit report


Can a person avoid any mark on their credit report if a lender accepts a deed to transfer property and walk away where the mortgage has been previously discharged but the person is current on payments?

If payments have been made on time and there is no notice of foreclosure or repossession, the credit report should note the loan is paid in full. Verify what the bank will report. Keep documentation about the transaction with the bank in your records and make sure that all three credit reporting agencies reflect the correct information.


Is there a way to remove the negative information from your credit report if you have had volunteer repossession and paid off the remainder?

Best way to do that is to negotiate the removal as part of the payoff with the lender. Otherwise, not likely because it is part of your credit history.


What do you do if your car got repossessed when it wasnt supposed to?

If it truly was a wrongful repossession, call local law enforcement and report the vehicle stolen. If they notify you that it was repossessed, inform them that it was a wrongful repossession. Next, contact the lender and demand politlely that they notify the repossession agency that the vehicle was wrongfully repossessed. You might even, still politely, suggest some sort of compensation for you inconvience. Also ask for the contact number of the repossession agency. Call them and notify them also of the wrongful repossession. Suggest also to them some sort of compensation for your incovenience. Vehicles that are wrongfully repoed must be returned as soon as possible and in the same condition as when taken. If there is damage, the lender and the repossession agency are liable. If you are not satisfied with how quickly your vehicle is being returned, push the auto theft charges.


Does a repossession stay on your credit report if you get the car back?

YES


How bad does a car repossession affect your credit report?

A Lot.