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.
AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.
Yes, there is no difference. A repossession is a repossession.
Yes, but perhaps not as adversely as an involuntary repossession.
It hurts it very badly.
Yes, it's one of the worst things that you can do to your credit.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
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.
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
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...
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.