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.
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.
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.
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.
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.
IT IS NOT ILEGAL FOR ANYONE TO HAVE A DEBT SHOW UP TWICE ON THEIR CREDIT REPORT. THE BEST THING TO DO IS CALL THE CREDITOR OR COLLECTION AGENCY THAT THIS DEBT IS UNDER AND HAVE THEM REMOVE THE EXTRA INFORMATION OFF OF YOUR CREDIT REPORT. ASK THEM TO REPORT IT TO THE BUREAUS IN ORDER FOR THIS TO BE RESOLVED.
A shortsale will report as Settled for Less than the Full Balance and will stay on your credit report for 7 years.
The judgment should be removed from your credit report 7 years from the date it was entered.
This will stay on your credit indefinitely until it is paid. Once it is paid, it will show a zero balance, but your credit report will still show that you did have a judgment at one time. It will stay on the report for approximately 7 years.
Your credit report will state that the vehicle was returned. It will still show a balance remaining once this vehicle is auctioned off. This is your best option, but it already has done it's damage to your credit report with missed payment. Also, this will affect your credit score monthly for the next two years from the date of last payment.
The way it is reported is the decision of the credit reporting bureau. It might be listed in different ways on individual reports. Generally it will remain on the report as a " settlement",not as a "satisfied in full."
Now, not too long. Check with the company you owed and see what credit agencies they report to and then contact the agencies directly.
Actually, it doesn't just come off your record. It will show as a repossession, but it will show as no balance due.
No. It will show that you had a judgment on your credit report for up to seven years, but it will show a zero balance.
This is tricky. There is no actual listing of the repossession on your credit report. There is a notation in relation to the debt owed. For example: say you borrowed the money for your car from ABC Bank. ABC Bank will then show as a credit action on your report. Next to that will be the balance of the debt, potentially the length of the contract, and a month by month code of your payment history in terms of thirty day payments. If the loan is defaulted, this will be noted. If the vehicle is repossessed, this will be noted as well. If no judgment is obtained, the notation will remain for seven years from the date of last payment. In the event of a judgment, it will remain for ten years.
If you filled out any applications for credit and said you were married -or- if you have any joint credit with your spouse, it will be on your credit report.
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Not long at all. It should show up in your next statement or the one after it.
Yes. If they extend the line of credit to you, and you do not activate it, it will still show up on your credit report.
Yes, credit card consolidation will affect your credit score. It will show on your credit report for at least five years, it doesn't hurt as bad as bankruptcy however.
YES I have a letter if you would like it that you can send to the parties involved that may or may not be able to help you get this off your credit report. let me know if you would like it.