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It remains for 7 years, from the date of repossession/charge-off, even if you get the vehicle back. However,If you don't pay the loan off, after it was repoed, then the original creditor MAY get a judgment against you, that judgment will stay on your credit report for 10 years. Unless you are able to settle out of court.

It can; however, depend on the lender and the situation. Some might not put a repo on your credit if you redeem the vehicle promptly and stay current from then on. If they have to sell your vehicle at auction, you most definitely will get a repo on your credit. I know of some people who redeemed their car and never had a repo reported, just the lates.

BTW, even if you get a repo on your credit, you have a good chance of disputing it off. You can dispute a lot of things off your reports, even if they are legit. Been there, done that.

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โˆ™ 2014-07-01 22:00:32
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Q: Does a repossession remain on your credit report if you get the vehicle back?
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How does a vehicle repossession affect your credit if everything else in your credit report is good?

Absolutely. Repossession, whether voluntary or involuntary, show on your credit report as a charged off account. This designation is similar to a collection account and shows that you did not repay the vehicle loan. Such a listing in your credit report would have a significant negative impact.


Repo how long will it take to get on credit report?

If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.


How long will a car repossession in California remain on your credit report?

7 years is the norm.


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.


Can a credit report show settlement then repossession on the same vehicle?

A credit report is a record of all transations on a reported account. In the life of a vehicle loan, many things can happen. Over the typical four to five years, the vehicle may have been repossessed and then redeemed and paid off. In these cases, yes, repossession and settlement can show on the same vehicle, on the same credit report.


Can you file for bankruptcy with a repo on your credit?

The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.


What will a repossession do to your credit report?

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


Need to get a reepo off my credit report?

i need to get a repossession off my credit report


Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?

AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.


How long does a voluntary repossession stay on your credit report?

For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.


Does bankruptcy remove a repossession from your credit report?

No.


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.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


How do you remove a repossession on your credit report after bankruptcy is discharged?

You present proof that the repossession never occured. You can dispute it with the credit reporting agency.


Can you return an auto without a repossession on your credit report?

Your credit report will state that the vehicle was returned. It will still show a balance remaining once this vehicle is auctioned off. This is your best option, but it already has done it's damage to your credit report with missed payment. Also, this will affect your credit score monthly for the next two years from the date of last payment.


How can a repossession with a zero balance affect a credit score and can it be removed?

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.


If a repossession stays on your credit report seven years does that start from the date of the repo or the date of the final sale?

It stays on your credit report 7 years from the date of settlement not the date of repossession.


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.


How does having a repossession removed from your credit report affect your credit?

Anytime a negative item is removed from your credit report, it will raise your credit score unless new collections are added to your report.


How bad does a car repossession affect your credit report?

A Lot.


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

YES


How long can a repossession stay on your credit report?

This is tricky. There is no actual listing of the repossession on your credit report. There is a notation in relation to the debt owed. For example: say you borrowed the money for your car from ABC Bank. ABC Bank will then show as a credit action on your report. Next to that will be the balance of the debt, potentially the length of the contract, and a month by month code of your payment history in terms of thirty day payments. If the loan is defaulted, this will be noted. If the vehicle is repossessed, this will be noted as well. If no judgment is obtained, the notation will remain for seven years from the date of last payment. In the event of a judgment, it will remain for ten years.


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.


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.


How will voluntary repossession of a vehicle affect a persons credit score?

Same as a regular repo. The creditor may still put the repossession on your credit report and it would stay there for up to seven years. Notice the word "may", because it is at the creditor's discretion...

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