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Answered 2006-09-10 05:55:05

Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.

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If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?

No, because you have your own separate credit report.


How can a car repossession be on your credit report when your car was not repossessed?

By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.


What are the adverse side affects on your credit report for having a car repossessed?

It will cause the credit score to decline and will remain on the credit report for seven years, perhaps creating problems for the person to obtain future credit/loans.


If your car is repossessed and you pay to get it back does it stay on your credit as a repo?

It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.


If your daughter's car is in your name and she is not paying can you let it get repossessed without ruining you and your spouse's credit rating?

No. You are the primary borrower, and it will be entered as a repo. on your credit report.


If you get a repossessed car back is it removed from your credit?

No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.


What happens to your credit if your car gets repossessed?

Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.


Will allowing your car to be repossessed when you already have 2 credit card chargeoffs on your credit report have any worse effects?

YES! It will lower your FICO score a lot!!


If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?

IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".


If I have had a car repossessed should I try to pay on it to help my credit report or should I just let it fall off my credit report after seven years?

Let it fall off. Be alot more careful the next time.


Is a line of credit considered a revolving account?

Yes, if the account type is considered a line of credit it will be calculated into your revolving account balance on your credit report.


What is the difference between a consumer credit report and a residential mortgage credit report?

a consumer credit report was more likely connecting to individuals as consumers,on the other hand,a residential mortgage credit report was simply focusing to the households considered as the consumer it self.


How do i report a repossessed bike?

If it's repossessed, it's repossessed... there's nothing to report. As long as there's a lien on that vehicle, the lienholder is the rightful owner of it, and can reclaim their property.


If your car was repossessed in 2000 and you never received a letter from the company saying you owed anything how do you get it removed from your credit if you don't remember the dealership's name?

You can look up your credit report online. The lien holder would show on your credit report not the dealership. A repo stays on your credit for 7 - 10 yrs.


Can a company still report a repossessed car after 7 years on your credit report?

Yes ... these matters can remain on one's credit reports for up to 15 years. This is why it is so crucially important to pay every bill that is due on time, everytime.


Can you break a lease on a car?

It is possible but not advisable to break a lease on a car. The car would be repossessed, and the repossession would go on your credit report.


If your car was repossessed for one day how can it be removed from your credit report if it is showing on your report as repossessed now open?

talk with the ones who repossesd it to change there remark, try to make a deal,like promise to pay out early,pay on time for a period of time,what ever it is get it in writing for evidence


If vehicle was repossessed in 2004 but ex spouse stopped paying consistently in 1999 What date must the collection agency report to the credit bureau?

The collection agency typically does not report to the credit bureaus, the original lender does. Lenders report to the bureaus, collection agencies collect on delinquent debt.


My husband is incarcerated. can you pull his credit report?

No only he can pull his credit report but him or a creditor with a permissible purpose, if you do and use his info it is considered fraud.


Is it better to turn your car in that to have it repossessed?

It will still show up as a repo on your credit report, even if you brought the car back and told them you can't pay for it.


If a car is repossessed and you pay the balance after they sell the car do they remove the Repo in your credit report?

Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.


If your van was repossessed then you paid off the balance a year later can your creditor refuse to report the current status of your account to the credit bureau?

Yes, however you can easily take care of this and have your credit reports corrected.


Can you be sued over the balance of a vehicle that has been voluntarily repossessed over three years ago when the repossession is on your credit report?

yes it has a 10 year limit


If you voluntarily let your car be repossessed by the lender do you still have to pay on the loan?

Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost


How does car repossesion affect credit score?

A repossession can drastically hurt your credit score. The repossessed account may report late payments (30, 60, 90 days late), a pad due balance, and a charge-off. A repossession can lower your credit score anywhere from 30 to 200 points depending on the other accounts reporting on your credit report.