The repossession stays on your credit report for 7 years.
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.
7 years is the norm.
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.
NOTICE OF DROPPING PARTY DEFENDANT
Type your answer here... in the USA, 7 to 10 years
Only on your CREDIT REPORT. DMV doesnt care how you got it or got rid off it, as long as ya dont steal it or sell before ya pay for it.
Normally a repossession stays on your credit rating for 7 years. If you are repaying the loan, talk to the bank and see if they have reported it. They may or may not have.
Like other credit items in your history (other than bankruptcy) it will remain on your credit report for 7 years. You may be able to have it removed sooner if it is not documented properly.
YES its bad you dont get the lowest interest rates IF lenders will loan to you 7-10 years
it can stay on your credit report for as long as 10 years.
A repo will stay on your credit report until the remaining balance is paid off or settled, you still owe the amount left on the vehicle even though the car is not in your possession.
How long does a judgement stay on your credit report in ventura county/ca
all negative info stay on your credit report ten years.none negative itiems stay for seven years.This info is from transunioun.
Paying off a repossession will not generally get it removed from your credit report. If you have a good faith basis for disputing the deficiency on your credit report, you should do that. Many consumers have very good arguments as to why they do not owe the deficiency they are being charged by lenders. In addition to disputing the deficiency on your credit report, you want to be sure to defend any deficiency action brought against you by a creditor. Do not default on these lawsuits. When faced with a competent defense, most creditors, debt buyers in particular, cannot prove their case against you. Winning the case is court certainly goes a long ways toward providing you with a sound basis to dispute the alleged debt on your credit report.
How long does a civil judgement in New Jersey stay on your credit report?
Vehicle repossessions stay on you credit report for 7 years.
A foreclosure will typically remain on your credit report for seven years.
Ten years from the date of discharge.
Filing for bankruptcy can have a lasting effect on your credit and that can cause some difficulties in getting any type of credit. Unfortunately, bankruptcy stays on your credit report for 7-10 years, after which time it is on your to work to get credit back!