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How can you have a repo on your credit score and not own a house or car?
Wiki User
∙ 11y ago
You may be a victim of identity theft or may have your credit report merged with someone else.
This is what you do:
1. get a copy of your credit report
2. Go over the reports, look for any accounts or inquiries you do not recognize
3. If you find account you do not recognize contact the 3 credit bureaus.
4. If the accounts are verified, contact your local police department and fill out a police report.
5. Fill out an identity theft affidavit and mail it to the FTC, Credit bureaus, questionable account creditors.
6. File a complaint with the FTC.
7. Contact the credit bureaus Again.
If you don't want to do this yourself, you may hire a credit repair company to help you resolve this issue.
Wiki User
∙ 11y ago
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When does a reposession affect your credit score?
it will be on there as soon as the order gets sent to the repo company, they are the collection agency. after they repo ur car and it gets sold at auction ur credit score will change .
How do I start to get credit to build a credit score?
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
How does credit affect an individual financial standing?
Your credit can raise or lower your credit score. It is what consumer credit for buying a house or car is based on.
Will keeping your house and car after bankruptcy help improve your credit score?
yes and no. If you don't' keep them; they will show up on your credit report as foreclosure and repo. However, if you keep them and keep paying; they won't keep updating your credit report with positive info- because, the debt was discharged. It's a double edge sword.
How does 522 credit score rank?
522 is a very low credit score. It is probably very difficult if not impossible to obtain any credit with a score that low. The national average is 687. You will need to improve your credit score if you plan on ever having a house, car, credit cards, etc....
When does a reposession affect your credit score?
it will be on there as soon as the order gets sent to the repo company, they are the collection agency. after they repo ur car and it gets sold at auction ur credit score will change .
What happens to the credit that you already have if your car gets repo?
Your credit score is a numeric value based on the good credit history you have. All credit in good standing helps raise this number. 30,60,90 day lates charge offs, etc lower this score. A repo will lower your score... And may also effect the rate your other creditors charge you on things like revolving credit, credit cards...
How do I start to get credit to build a credit score?
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
What does a credit score do for people?
A credit score is looked at to see if you can obtain a loan or get financed for a house, car, etc. It is important to try and keep your credit score as high as possible.
How does credit affect an individual financial standing?
Your credit can raise or lower your credit score. It is what consumer credit for buying a house or car is based on.
If you have a voluntary car repo while you are in chapter 13 how does it appear on your credit report?
as a repo
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.
What are the laws regarding reposition after bankruptcy?
can they send a police to my house to repo my car? can they send a police to my house to repo my car?
How does 522 credit score rank?
522 is a very low credit score. It is probably very difficult if not impossible to obtain any credit with a score that low. The national average is 687. You will need to improve your credit score if you plan on ever having a house, car, credit cards, etc....
Will keeping your house and car after bankruptcy help improve your credit score?
yes and no. If you don't' keep them; they will show up on your credit report as foreclosure and repo. However, if you keep them and keep paying; they won't keep updating your credit report with positive info- because, the debt was discharged. It's a double edge sword.
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".
Does credit score really matter anymore?
Yes, it does matter. Bad credit means you can't buy a house or car and get a loan.
