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YES, on a CR, a repo is a repo.
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∙ 8y ago
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Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
How does a willing reposession effect your credit?
A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.
What does a voluntary repossession do to your credit?
Any repossession will negatively impact your credit. Organizations using the credit report do not differentiate between voluntary and non-voluntary. Rather, the organizations see that you were not responsible with credit and what you purchasd needed to be taken away. Generically, a repossession is considered the same as a chargeoff or writeoff, so the impact on the credit score may be anywhere from 50 to 200 points, depending on one's personal credit situation.
Is a voluntary surrender weighted the same as a repossession on your credit report?
For all practical purposes, YES.
How does a voluntary repossession affect your credit?
it's all the same whether you turned it in or they picked it up
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
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 a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
Is a voluntary repossession better than a repossession?
neither looks good on your credit.
If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
A repo is a repo is a repo.
Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
How does a willing reposession effect your credit?
A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.
How long does a voluntary repossession affect your credit rating?
7 years.
What does a voluntary repossession do to your credit?
Any repossession will negatively impact your credit. Organizations using the credit report do not differentiate between voluntary and non-voluntary. Rather, the organizations see that you were not responsible with credit and what you purchasd needed to be taken away. Generically, a repossession is considered the same as a chargeoff or writeoff, so the impact on the credit score may be anywhere from 50 to 200 points, depending on one's personal credit situation.
If you bought a used car and want to return it and buy a cheaper one will it ruin your credit?
What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.
Will voluntary car reposesion hurt your credit?
if i let my vehicle get reposesed will it hurt my credit?
Is a voluntary surrender weighted the same as a repossession on your credit report?
For all practical purposes, YES.
