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How does a settlement of a repossessed car affect your credit?


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2015-07-15 19:31:36
2015-07-15 19:31:36

Melanie, ANYTHING that has to do with how you pay your bills will affect your credit. Anything good will help and anything bad will hurt. A repo is on the BAD side and a settlemnt is usually on the good side. How the creditor reports it to the CRA will affect how good or bad it looks. The method of reporting is a possible negotiating point. a settlement is like anyother "deal", the more time and effort you put into it, the better the results. Good Luck


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