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Can your car be considered repossessed and put on your credit report as repossessed if they never picked up the car?
Wiki User
∙ 17y ago
Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.
Wiki User
∙ 17y ago
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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.
How often can you pull your credit report?
The credit report holder can check his or her report as often as they choose. When you check your credit report it is considered a "soft inquiry" and will not affect your status.
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.
