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How long does it take for a car repossession to show up on your credit report?

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2015-07-16 18:17:37
2015-07-16 18:17:37

1-6 months depending on the lender.

Once the vehicle is picked up and sent to auction which will happen in 30-60 days.Once the paperwork is processed when the vehicle is picked up the cbr should be updated within 30 days.

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It can show at any time. A repossession is compleated as soon as the car is picked up so it does not matter what happens after the repossession it still did happen.

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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.

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Almost all auto lenders will report a reposession to the credit bureaus. There is a possibility that they won't report to all three credit bureaus as credit reporting is a voluntary system. They may only report to one or two of the bureaus.

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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.

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No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.


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